Truist raised the firm’s price target on Prologis (PLD) to $123 from $121 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s management has sufficiently deflated near-term earnings expectations, and the firm believes the stock is bottoming out in terms of sentiment, the analyst tells investors in a research note. Truist adds that it continues to have a long term favorable view on industrial fundamentals despite the near term softness, projecting a 7.3% 3-year FFO CAGR.
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