Hudson Pacific’s Valuation Discounts $475 Million Deal And Asset Sales, Analyst Upgrades Stock
BMO Capital Markets analyst John P. Kim upgraded Hudson Pacific Properties, Inc. (NYSE:HPP) on Friday from Market Perform to Outperform, raising the price forecast from $4 to $5.
The analyst notes that Hudson Pacific Properties’ shares have dropped due to disappointing earnings, mainly caused by weaker performance in their office and studio segments, which has led the market to speculate about potential insolvency.
Despite these challenges, the company has been actively seeking ways to generate cash flow, including raising debt and selling assets, Kim writes. These efforts are aimed at easing their near-term debt obligations, which extend through 2026.
Per Kim, the company’s current valuation is lower due to a decline in…
