BXP

BXP · NYSE

$59.07+$1.13 (+1.95%)TodayMarket closed · Oct 20, 6:30 PM ET

Prev close $57.94

BXP analyst rating

BuyConsensus of 14 analysts over the last 12 months. 57% rate it a buy.

Strong buy0
Buy8
Hold6
Underperform0
Sell0

12-month price target · 21 analysts

Average $76.44 (+29.4% upside)

Low: $60.60
Now: $59.07
High: $92.40

Upgrades and downgrades

The latest rating actions, newest first

BXP analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Oct 12, 2026	Maintains	Overweight	$88.00 → $72.00	44%
Evercore ISI Group	Sep 21, 2026	Maintains	In-Line	$71.00 → $67.00	45%
Scotiabank	Sep 17, 2026	Maintains	Sector Outperform	$76.00 → $73.00	47%
Truist Securities	Sep 9, 2026	Maintains	Hold	$64.00 → $68.00	45%
Wells Fargo	Sep 1, 2026	Maintains	Overweight	$77.00 → $82.00	42%
Piper Sandler	Aug 27, 2026	Maintains	Overweight	$90.00 → $88.00	44%
UBS	Aug 25, 2026	Maintains	Neutral	$61.00 → $70.00	45%
JP Morgan	Aug 25, 2026	Maintains	Overweight	$79.00 → $87.00	58%
Scotiabank	Aug 5, 2026	Maintains	Sector Outperform	$74.00 → $76.00	47%
Citigroup	Aug 4, 2026	Maintains	Neutral	$58.00 → $69.00	44%

The case for and against

Updated Oct 16, 2026

Bull case

BXP is benefiting from improving occupancy, a strong leasing pipeline that exceeds lease expirations, and renewed demand from AI tenants in San Francisco and New York, while positive life science signals in Boston/Cambridge support further portfolio stabilization. Its 164-property, 51.1 million rentable square foot office-heavy footprint across major gateway markets provides scale and diversification, and management’s activity at 343 Madison plus early renewals adds visibility to future cash flow. On the financial side, 2026 FFO is estimated at $7.05 per share and 2027 at $7.22, with modeled occupancy rising toward 91%, though higher leverage and refinancing dilution remain key risks.

Bear case

BXP is pressured by a fundamentally fragile office-demand backdrop, with 164 properties and about 51.1 million rentable square feet concentrated in office-heavy gateway markets that remain exposed to tenant caution and slower absorption. The main downside catalysts are a potential recession that reduces office-using employment and a higher-for-longer interest-rate environment, both of which could weaken rental rates, raise refinancing costs, and delay occupancy gains. If steady occupancy progress does not materialize, and a weaker economy disrupts office-using job growth, the portfolio’s limited retail, hotel, and residential diversification is unlikely to offset the strain on core office cash flows.

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