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.
Latest Ratings for HPP
|Nov 2014||Credit Suisse||Initiates Coverage on||Outperform|
|Sep 2014||Mizuho Securities||Initiates Coverage on||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.