Morgan Stanley analyst Ronald Kamdem raised the firm’s price target on BXP to $62 from $52 and keeps an Equal Weight rating on the shares. While 23% rally since October was driven by higher levered REITs, Morgan Stanley sees another leg higher with rate-sensitive sectors leading, the analyst tells investors in a research note. The firm views the office REIT rally as on its last leg, and sees potential benefits to storage REITs if home sales rise.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BXP:
- Early notable gainers among liquid option names on November 29th
- Early notable gainers among liquid option names on November 14th
- BXP to sell 45% interest in Kendall Square Life Sciences Properties
- BXP price target lowered to $73 from $75 at BofA
- BXP narrows FY23 FFO view to $7.25-$7.27 from $7.24-$7.29