BMO Capital analyst John Kim raised the firm’s price target on Hudson Pacific to $11 from $10 and keeps an Outperform rating on the shares. The stock is up 35% in the past week as the company makes progress on improving its balance sheet with a big assist from a reduced interest rate outlook, the analyst tells investors in a research note. BMO adds that it sees further upside as Hudson Pacific continues to address its debt covenant metrics, sees its studio and services business operate in full strength by mid-year 2024, and continues being active on office leasing.
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