UBS cites weak demand for office space in steep price cut of Boston Properties

Boston Properties Inc. on Monday drew a sizeable price-target cut of $17 a share from UBS, partly due to the impact of downward pressure from the office-space market, although analysts said the real-estate investment trust remains resilient.

UBS analysts slashed their price target for Boston Properties BXP to $52 a share from $69 a share and reiterated a neutral rating on the stock.

“Our…