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Downgrade Alert for Boston Properties (BXP)

By Nick Russo

Boston Properties (NYSE:BXP) was downgraded from Overweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $139.07 on volume of 429,000 shares, below average daily volume of 592,000.

In the past 52 weeks, shares of Boston Properties have traded between a low of $94.91 and a high of $139.37 and closed yesterday at $139.07, which is 47% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

Boston Properties, Inc. is a real estate investment trust. The trust owns, manages, and develops office properties in the United States, with a significant presence in Boston, Washington, D.C., Midtown Manhattan and San Francisco.

Potential upside of 2.7% exists for Boston Properties, based on a current level of $139.07 and analysts' average consensus price target of $142.76. The stock should discover initial support at its 50-day moving average (MA) of $125.28 and subsequent support at its 200-day MA of $121.71.

SmarTrend recommended that subscribers consider buying shares of Boston Properties on June 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $130.60. Since that recommendation, shares of Boston Properties have risen 6.4%. We continue to monitor BXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades boston properties

Ticker(s): BXP