Truist analyst Michael Lewis raised the firm’s price target on Boston Properties to $86 from $82 but keeps a Hold rating on the shares after its Q4 results and FY23 guidance cut. The analyst is positive on the REIT’s high-quality portfolio, limited 2023 lease expirations and strong balance sheet liquidity that should limit the stock’s downside risk. The firm adds however that Boston Properties shares may remain volatile while investors are on Fed and recession watch.
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Published first on TheFly
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