Citi adds ’90-day positive catalyst’ on BXP

Citi analyst Nick Joseph added a “90-day positive catalyst” on BXP (BXP) while keeping a Neutral rating on the shares with a $70 price target While BXP has recently outperformed real estate investment trusts, it has underperformed year-to-date, and there is further upside near-term, the analyst tells investors in a research note. The firm believes the company is well positioned to benefit from the continued strength in New York City leasing activity, increasingly positive sentiment on the West Coast recovery, and the potential for positive leasing news on the 343 Madison joint venture.