BTIG analyst Thomas Catherwood lowered the firm’s price target on Hudson Pacific (HPP) to $8 from $10 and keeps a Buy rating on the shares ahead of its Q1 results. The company’s earnings should mark a unique and uniquely challenging moment in its long campaign against a large block office expirations, studio setbacks, and debt refinancing concerns, the analyst tells investors in a research note. BTIG has revised its estimates to reflect higher interest expense, lower occupancy, and a more prolonged studio recover, the firm adds.
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