ProLogis (PLD) PT Raised to $135 at Argus

Argus analyst Marie Ferguson raised the price target on ProLogis (NYSE: PLD) to $135.00 (from $120.00) while maintaining a Buy rating.

The analyst comments "We are reaffirming our BUY rating on Prologis Inc. (NYSE: PLD) and raising our target price to $135, up from $120. The increase accounts for growth potential as projections of a loosening economy are aided by sector rotation. The share prices of REITs, in general, tend to improve as interest-rate pressure eases, which Argus estimates should occur by year-end. The company operates warehouse and distribution space, primarily for business-to-business fulfillment in North and South America, Asia, and Europe. PLD also offers manufacturing, storage, and research space. Premier locations have created pricing power over peers."

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