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Jefferies Lowers Target, Estimates for Boston Properties (BXP)

By Dividend.com,  August 21, 2012, 08:39:50 AM EDT

Office properties REIT Boston Properties, Inc. ( BXP ) on Tuesday caught some negative commentary from analysts at Jefferies & Co.

The firm maintained its "Hold" rating on BXP but lowered its price target to $108. That new target suggests a 3% downside to the stock's Monday closing price of $111.34.

Jefferies also cut its earnings estimates for the company, noting that its large cash balance will continue to be a drag on earnings unless it puts the money to work.

Boston Properties shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of Boston Properties ( BXP ) have a 1.98% dividend yield, based on last night's closing stock price of $111.34. The stock has technical support in the $105-$107 price area. If the shares can firm up, we see overhead resistance around the $113-$116 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 .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: BXP



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