JPMorgan Raises Howard Hughes Price Target to $85, Keeps Neutral Rating

JPMorgan raised its price target on Howard Hughes to $85 from $76 and maintained a Neutral rating. The firm increased estimates due to the company's stronger-than-expected quarterly report and guidance. Howard's core real estate businesses are performing well, but identifying catalysts for the stock remains a challenge.

JPMorgan Chase has elevated its price target for Howard Hughes Holdings (HHH) to $85 from $76, maintaining a Neutral rating on the stock. The investment firm increased its estimates in response to HHH's stronger-than-expected quarterly report and guidance. Analysts at JPMorgan highlighted that HHH's core real estate businesses have been performing well, but they noted that identifying catalysts for the stock remains a challenge [2].

Howard Hughes Holdings reported significant achievements in its second-quarter 2025 results, including record land sales of $1.35 million per acre, $102.4 million in master planned community (MPC) earnings before tax (EBT), and $68.9 million in net operating income (NOI) from its operating assets. These figures were driven by premium locations and strong occupancy rates, contributing to the company's robust financial performance [4].

The partnership between Howard Hughes and Pershing Square is expected to facilitate the transformation of HHH into a diversified holding company. Pershing Square's investment of $900 million in newly issued shares, combined with its existing ownership, has enabled HHH to become a well-capitalized entity. This investment has strengthened HHH's balance sheet, providing liquidity and facilitating debt reduction [3].

Despite the strong performance in real estate, analysts at JPMorgan caution that the lack of clear catalysts for the stock may pose a headwind for HHH's stock price. The company's ongoing efforts to diversify its operations and leverage its real estate portfolio for strategic investments are expected to drive future growth, but these initiatives may not immediately translate into stock price appreciation [2].

References:

[1] https://www.investing.com/news/company-news/jpmorgan-chase-stock-hits-alltime-high-at-30155-usd-93CH-4216801
[2] https://www.tipranks.com/news/the-fly/howard-hughes-price-target-raised-to-85-from-76-at-jpmorgan-thefly?mod=mw_quote_news
[3] https://seekingalpha.com/article/4816964-howard-hughes-core-business-continues-deliver-solid-performance
[4] https://www.ainvest.com/news/howard-hughes-holdings-strategic-rebirth-real-estate-diversified-growth-2508/