BMO Capital raised the firm’s price target on BXP to $80 from $75 and keeps an Outperform rating on the shares after meeting with its CFO Mike LaBelle. The discussion indicates that leasing activity was healthy across BXP’s markets, particularly Midtown Manhattan and Boston, reflecting improving demand, the analyst tells investors in a research note. The overall development starts have also come to a halt, providing a potential rental boost when the economy turns, the firm states, adding that while the dislocated financing markets remain a concern, there are some positive signs.
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