COPT Defense Properties price target raised to $33 from $32 at Jefferies

Jefferies raised the firm’s price target on COPT Defense Properties (CDP) to $33 from $32 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.