BUZZ-J.P.Morgan upgrades BXP to 'neutral', lifts PT

Reuters
06-23
BUZZ-J.P.Morgan upgrades BXP to 'neutral', lifts PT

** J.P.Morgan upgrades real estate investment trust BXP BXP.N rating to "neutral' from "underweight", also raises price target to $78 from $72, an upside of 9.1% from the stock's last close

** Expects co's occupancy and leasing activity to improve in the coming quarters

** "We believe the office market should see an inflection up in occupancy late in 2025 or early 2026" - says J.P.Morgan

** Estimates 2025 funds from operations/share (FFO) at $6.89, unchanged from prior forecast, but cuts 2026 FFO/share to $7.24 from $7.29

* 8 of 22 brokerages rate the stock "buy" or higher, 13 "hold" and 1 " strong sell"; their median PT is $75- data compiled by LSEG

** As of last close, stock had fallen 3.9% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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