Prologis price target raised to $123 from $121 at Truist

Truist analyst Ki Bin Kim raised the firm’s price target on Prologis (PLD) to $123 from $121 and keeps a Buy rating on the shares. The firm is decreasing its normalized FFO per share estimates for 2025 and 2026, primarily due to lower executed and projected net external growth, but maintains its Buy rating as it believes Prologis management has “sufficiently deflated near-term earnings expectations” and views the stock as “bottoming out.”