Alexandria Real Estate price target raised to $61 from $60 at BofA

BofA raised the firm’s price target on Alexandria Real Estate (ARE) to $61 from $60 and keeps a Neutral rating on the shares after a Q4 beat on one-time items. While the firm credits management for what it calls “their measured commentary” despite increasingly bullish headlines around biotech, it says it still lacks visibility into the return of sustained demand.