UPDATE: Morgan Stanley Raises PT to $16 on Hudson Pacific Properties;
Morgan Stanley increases its price target on Hudson Pacific Properties (NYSE: HPP) from $15 to $16 as it reiterates an Equal-weight rating on shares.
Morgan Stanley comments, "We raise our price target by $1, to $16, as HPP announced two new acquisitions and closed an 11.5M share offering. Together, these efforts scale HPP's platform and raise future earnings. We estimate stabilized FFO/shr may approach $1.20, which could support an ~$0.80 dividend ($0.50 currently)."
HPP closed at $15.61 on Tuesday.
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