Barclays Maintains an 'Overweight' on Boston Properties (BXP); Raising Estimates on Strong Growth Outlook

May 11, 2012 12:44 PM EDT
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Price: $129.35 -0.77%

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Barclays maintains an 'Overweight' on Boston Properties Inc. (NYSE: BXP) price target lowered from $116 to $113.

Analyst, Ross L. Smotrich, said, "SSNOI growth inflected modestly positive on better occupancy and rent spreads. We expect the fundamental recovery to gain steam, helping BXP's leasing results, which will in turn drive earnings growth in 2013 and beyond; there will be some downtime and elevated capex in 2012. Future results will also benefit from acquisitions, including the March 2012 purchase of 100 Federal Street ($0.18ps accretive in 2012), and development."

Barclays raises FY12 FFO from $4.79 to $4.89 and FY13 from $5.41 to $5.55.

For an analyst ratings summary and ratings history on Boston Properties Inc. click here. For more ratings news on Boston Properties Inc. click here.

Shares of Boston Properties Inc. closed at $108.20 yesterday.

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