BXP price target lowered to $77 from $79 at Truist

Truist lowered the firm’s price target on BXP to $77 from $79 and keeps a Hold rating on the shares as part of a broader research note on REITs. The firm is relatively bullish on the sector following a challenging 2023 that was mired by volatile inflationary environment and believes that REITs should benefit from a favorable backdrop of improved cost of capital environment, liquidity and attractive valuation levels, the analyst tells investors in a research note. The company appears well-positioned with a high-quality portfolio, but its markets appear very challenging in the near term, Truist added.