Argus lowered the firm’s price target on Prologis to $125 from $140 but keeps a Buy rating on the shares. The company’s Q3 results topped consensus estimates and the firm has a favorable view of Prologis’s growth prospects as the REIT has substantial pricing power thanks to its premier locations and made-to-order warehouses, the analyst tells investors in a research note. 2022-2023 is seen as a period of industrywide correction, but Argus expects demand for warehouse space to increase as economic weakness and sluggish consumer spending no longer tighten the demand for new industrial spaces, the firm added.
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Read More on PLD:
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- Prologis price target lowered to $153 from $159 at Barclays
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