BMO Capital lowered the firm’s price target on Hudson Pacific (HPP) to $3.50 from $4 and keeps an Outperform rating on the shares. The firm is adjusting its model after the company priced a $600M equity offering anchored by Cohen & Steers while also noting that Hudson’s “significantly reduced” G&A was overdue. The transaction was “highly dilutive” but also reduces the company’s insolvency risks, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HPP:
- Strategic Financial Maneuvers and Growth Potential Drive Buy Rating for Hudson Pacific Properties
- Strategic Financial Moves Justify Buy Rating for Hudson Pacific Properties Despite Challenges
- Hudson Pacific 71.8M share Spot Secondary priced at $2.23
- Hudson Pacific Announces $600M Stock Offering
- Hudson Pacific announces $600M common stock, warrants offering
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue