Freedom Broker Upgrades ProLogis (PLD) to Buy

Freedom Broker analyst Zhiger Kurmet upgraded ProLogis (NYSE: PLD) from Hold to Buy with a price target of $142.00 (from $165.00).

The analyst commented: "Prologis delivered results ahead of our Core FFO estimate, with occupancy edging higher and rent spreads on lease roll-over widening sequentially. However, the outlook has become more tempered. Management lowered net earnings and strategic capital revenue guidance and reduced expected disposition volumes, while raising its return requirements as higher Treasury yields slow transaction activity. We lower our estimates for 2027 and 2028 and reflect a higher cost of capital in
our valuation. The SEGRO combination cleared the shareholder vote and is expected to close in H1'27. We upgrade our recommendation to Buy and lower our price target to $142. The upgrade reflects the decline in the shares, which now trade at a meaningful discount to our revised targe"

For an analyst ratings summary and ratings history on ProLogis click here. For more ratings news on ProLogis click here.

Shares of ProLogis closed at $125.75 yesterday.

You May Also Be Interested In

• Jefferies Downgrades EyePoint Inc. (EYPT) to Hold
• StoneX Reiterates Buy Rating on Texas Instruments (TXN)
• American Electric Power (AEP) PT Lowered to $135 at BMO Capital