The Seagulls will head to St James' Park sitting six points and six places above their hosts in the standings after they secured a morale-boosting home success over West Ham before the international break.
Newcastle, by contrast, are yet to win a match this season, picking up just two points from their eight matches to date, but despite his former club's current struggles, Hughton believes the Magpies are the favourites to win Saturday's match.
"Looking at it logically, they'll be the favourites as they're the home side and we've both faced a similar calibre of opposition so far this term," Hughton, who managed Newcastle between 2009 and 2010, told reporters.
One of the main reasons Hughton feels Brighton are outsiders to win the match is because of their poor away record in the Premier League.
The South Coast club picked up the fewest away points of any team in the top-flight last season, including the sides that were relegated, while they have drawn just one of their four games on the road so far this term.
He added: "We've also had some very tough games, and this is another one for us - we know it's a challenge to do better away from home for ourselves."