Goldman Sachs Cuts BXP Price Target to $72, Retains Neutral Rating After Q4 Insights
On January 28, BXP reported Q4 revenue of $877.1 million, a 2.2% increase, and net income of $248.5 million versus a $230 million loss a year earlier. On February 5, Goldman Sachs cut its price target to $72 from $75, kept a Neutral rating and revised AFFO estimates.
1. Q4 Financial Performance
BXP’s fourth quarter delivered $877.1 million in revenue, up 2.2% year-over-year, driven by leasing gains in gateway markets. The REIT posted net income of $248.5 million, or $1.56 per diluted share, reversing a $230 million loss from the prior year period.
2. Goldman Sachs Price Target Adjustment
On February 5, Goldman Sachs lowered its price target on BXP to $72 from $75 while maintaining a Neutral rating. The revision reflects updated AFFO projections and an extended modeling period after reviewing Q4 results.
3. BofA Analyst Outlook
Earlier in the week, BofA raised its BXP price target to $84 from $83 and affirmed a Buy rating. The analyst highlighted solid leasing momentum and transaction activity as on-track for the company’s 2026 objectives presented at its investor day.
4. AFFO Estimates and Asset Dispositions
Goldman noted progress on property dispositions during the quarter and rolled its AFFO estimates forward by one quarter. The continued asset recycling strategy supports adjusted funds from operations growth and balance sheet optimization.