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Investing.com - Piper Sandler raised its price target on Howard Hughes Holdings (NYSE:HHH) to $95.00 from $85.00 on Wednesday, while maintaining an Overweight rating on the stock. Currently trading at $82.17 with a P/E ratio of 11.12, InvestingPro analysis suggests the stock is undervalued, with the shares trading near their 52-week high of $87.77.
The upgrade follows announcements made at the company’s annual shareholder meeting, where Executive Chairman Bill Ackman revealed that Howard Hughes may be close to acquiring an insurance company, with a potential deal expected around year-end.
Piper Sandler noted that adding an insurance company would be a strategic first step in positioning Howard Hughes Holdings to follow a business model similar to Berkshire Hathaway, creating a long-term focused diversified holding company structure.
The research firm highlighted that Howard Hughes would benefit from Pershing Square’s public market investing expertise, which has outperformed the broader market by approximately 13% over the past 5 years, 15% since 2018, and 11% since 2004, all excluding fees.
Piper Sandler also noted that Howard Hughes’ master planned communities continue to perform well, with CEO David O’Reilly adjusting supply to meet market demand.
In other recent news, Howard Hughes Holdings Inc. reported disappointing second-quarter results for 2025, with earnings per share (EPS) of -$0.22, significantly missing analyst forecasts of $1.04. Revenue also fell short, reaching $260.88 million compared to the expected $289.31 million. Despite these earnings results, Howard Hughes Communities announced record sales of $1.2 billion for its luxury condo towers at Ward Village in Honolulu. The towers, ’Ilima Ward Village and Melia Ward Village, have achieved pre-sold levels of 41 percent and 52 percent, respectively.
In other developments, Howard Hughes Holdings appointed Thom Lachman and Susan Panuccio as independent directors to its board. Meanwhile, Seaport Entertainment Group Inc. named Matt Partridge as its new President and CEO, with Anton Nikodemus transitioning to a Special Advisor role. Additionally, Seaport Entertainment appointed Lenah Elaiwat as Interim CFO and Treasurer, and Michael Crawford will become Chairman of the Board. These recent developments highlight significant leadership changes and strategic moves within these companies.
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