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Fly News Breaks for May 8, 2017
CSCO, HPP
May 8, 2017 | 07:54 EDT
Baird analyst David Rodgers said the 2018 departure of Cisco (CSCO) from the Bay Area will provide a more challenged outlook for Hudson Pacific (HPP), but he believes the pullback is a buying opportunity. Rodgers said the improvement in rental income from the lease-up portfolio, combined with development opportunities throughout thee portfolio, keeps him positive on the shares. Rodgers reiterated his Outperform rating and lowered his price target to $36 from $39 on Hudson Pacific shares.