Hudson Pacific initiated with a Hold at Jefferies

Jefferies initiated coverage of Hudson Pacific (HPP) with a Hold rating and $2.70 price target Continued return to office trends and a more deregulated business environment are long-term tailwinds for an office recovery, but net absorption should remain negative through 2026, the analyst tells investors while launching coverage of the Office REIT sector. Given ongoing structural challenges, the firm remains selective and is “leaning into sustainable occupancy/earnings growth stories,” the analyst added.