Hudson Pacific downgraded to Underperform at BofA on challenging fundamentals

As previously reported, BofA downgraded Hudson Pacific to Underperform from Neutral with a price target of $4, down from $5.50. Challenging fundamentals are “the new norm” for office REITS, says the firm, which cites a lack of visibility on when operations will stabilize in its downgrade of Hudson and two other office REITS.