D.A. Davidson Raises Price Target On Boston Properties On Extremely High Valuations

In a report published Friday, D.A. Davidson analyst Barry Oxford reiterated a Neutral rating on Boston Properties (NYSE: BXP), and raised the price target from $140.00 to $145.00.

In the report, D.A. Davidson noted, “Boston Properties reported fourth quarter results of $1.26 FFO per share, even with consensus and three pennies below our forecast of $1.29 (one time charge for early extinguishment of debt). FFOPS is down from $1.29 in the same quarter last year and from $1.47 last quarter. Full-year FFO was $5.26, compared with $4.91 in 2013.”

Boston Properties closed on Thursday at $143.44.