BXP price target raised to $84 from $79 at Jefferies

Jefferies analyst Joe Dickstein raised the firm’s price target on BXP (BXP) to $84 from $79 and keeps a Buy rating on the shares. The firm adjusted ratings and targets in the real estate investment trust space following a transfer of coverage. Artificial intelligence is the key theme shaping future office demand, and REITs with exposure to traditional gateway markets present the most attractive risk/reward, the analyst tells investors in a research note. Jefferies believes gateway office markets like San Francisco, New York City, Seattle and Boston are capturing outsized growth from AI jobs. BXP is the firm’s top pick in the group.