BXP - Boston Properties' $2.55B Pipeline To Deliver 4% CAGR In FY24-25: Analyst | Benzinga

BMO Capital Markets analyst John P. Kim reiterated an Outperform rating on Boston Properties, Inc. (NYSE: BXP), raising the price target to $80 from $75.

Kim remains bullish on the company's healthy leasing activity, particularly in Midtown Manhattan and Boston CBD – reflecting improving demand. 

In Midtown Manhattan, BXP is seeing pricing power, given limited availability for large-block users and expansions from financial services and law firms (e.g., Kirkland & Ellis at 601 Lexington), Kim notes.

Leasing demand is healthier in San Francisco than LA, with 22% of 4.5 msf of tenant demand coming from AI startups.

BXP's $2.55 billion pipeline is expected to deliver Full story available on Benzinga.com