Boston Properties price target lowered to $82 from $85 at Truist

Truist analyst Michael Lewis lowered the firm’s price target on Boston Properties to $82 from $85 and keeps a Hold rating on the shares as part of a broader research note previewing 2023 for the REIT group. The sector offers "attractive valuations" relative to broader equities and private real estate and also given a downward sloping forward interest rate curve later this year, the analyst tells investors in a research note. Lewis adds however that rents are expected to decline over the next two years in the company’s key markets, which could weigh on the REIT’s core operations.