BTIG adjusted the firm’s price target on Hudson Pacific (HPP) to $26 from $4.75 and keeps a Buy rating on the shares following the sale of Element LA and the 7- for-1 reverse stock split completed on December 1. The split-adjusted target to reduced to reflect a modestly slower recovery in filming activity as the media industry digests the upsized $750M tax California Film and TV tax credit, the analyst tells investors in a research note.
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