Deals
Howard Hughes May Be Worth Up to 25% More Even After Record Gain
- Jefferies sets sum-of-the-parts valuation at $165 a share
- A 10% sale discount could see a 15% upside in shares
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Howard Hughes Corp. could be worth as much as 25% above its 42% climb on Thursday after news the company is exploring options, including a potential sale, Jefferies analyst Jonathan Petersen wrote in note earlier.
The company’s sum-of-the-parts valuation is around $165 per share, according to Peterson. However, a 10-15% discount could still be applied to the deal price, similar to other recent real estate transactions.