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Update: BofA Downgrades Hudson Pacific to Underperform From Neutral on Relative Valuation, Price Target is $14

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(Updates with the analyst's commentary.)

BofA Securities downgraded Hudson Pacific Properties (HPP) rating to underperform due to relative valuation.

"Based on our $14 price objective, it now screens as an Underperform relative to US REITs under our coverage with a total return of -8," analysts led by Jana Galan wrote in a Tuesday note.

Hudson Pacific Properties has an average rating of hold and mean price target of $14.09, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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