Boston Properties: Analyst Price Target and Earnings Report
Analyst Action
Several analysts have recently adjusted their price targets for Boston Properties (NYSE: BXP).
Wedbush upgraded BXP from Neutral to Outperform and raised its price target from $70.00 to $80.00. Deutsche Bank maintained its Hold rating but increased its price objective from $68.00 to $72.00.
Earnings Results
Boston Properties released its financial results for the second quarter and six months ended June 30, 2024.
Key Highlights:
- Revenue: $834.9 million, up 2.1% year-over-year
- Funds from Operations (FFO): $302.8 million, up 3.2% year-over-year
- Core FFO per share: $1.60, exceeding analysts' estimates by $0.03
Stock Performance
Shares of BXP opened at $68.76 on Wednesday with a 52-week low of $50.64 and a 52-week high of $73.97.
Outlook
Analysts remain positive on Boston Properties' long-term prospects, citing its strong portfolio, disciplined management team, and favorable market conditions. The company's focus on high-quality office and multi-family assets is expected to continue driving growth in the coming quarters.
Investors should closely monitor any further analyst revisions or company updates to stay informed on the latest developments for Boston Properties.
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