BXP downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Steve Sakwa downgraded BXP (BXP) to In Line from Outperform with a price target of $76, up from $75, following the investor day. The firm cites BXP’s larger disposition program and slower revenue growth relative to prior expectations for the downgrade. The shares offer limited upside after rallying 20% in the past month, the analyst tells investors in a research note. Evercore expects consensus estimates to move lower, noting BXP plans to sell more assets over the next two years to help deleverage the balance sheet and fund growth.