Biomed Realty Trust initiated with "neutral"

04/10/07 - Credit Suisse

NEW YORK, April 10 (newratings.com) - Analysts at Credit Suisse initiate coverage of Biomed Realty Trust Inc (BMR) with a "neutral" rating. The target price is set to $30.

In a research note published this morning, the analysts mention that the company is witnessing significant challenges for lease-up at the Pacific Research Center. The analysts express their optimism, however, regarding Biomed Realty Trust’s long-term fundamentals, benefiting from tenant investment in office lab properties. The slough portfolio is likely to lead to a significant overhang on the company’s stock, Credit Suisse adds.