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Office properties REIT Boston Properties, Inc. ( BXP ) on Monday caught a big upgrade from analysts at ISI Group.

The firm said it upgraded BXP from "Hold" to "Buy" and lifted its price target from $113 to $115. That new target suggests a 13.5% upside to the stock's Friday closing price of $101.31.

An ISI Group analys commented, "We believe YTD underperformance, compelling valuation and several identifiable near-term catalysts offer investors an attractive entry point. Our price target increased by $2 to $115 as we raised our forward NAV by 3% to $124 to account for two issues we explored in detail post NAREIT: 1) greater than expected SL rent burn-off in 2013 vs. 2012 and, 2) giving BXP credit for extraordinarily large rent rollups in the GM building in 2019 & 2020 which most investors (and analysts) have largely forgotten about."

Boston Properties shares fell 81 cents, or -0.8%, in premarket trading Monday.

The Bottom Line
Shares of Boston Properties ( BXP ) have a 2.13% dividend yield, based on Friday's closing stock price of $103.31. The stock has technical support in the $93-$95 price area. If the shares can firm up, we see overhead resistance around the $110-$112 price levels.

Boston Properties, Inc. ( BXP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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