Prologis price target lowered to $124 from $145 at RBC Capital

RBC Capital lowered the firm’s price target on Prologis to $124 from $145 but keeps an Outperform rating on the shares. The company’s Q1 results were “challenging” with a near-term leasing slowdown, though its management remains constructive on the medium-term outlook for the stock, the analyst tells investors in a research note. Given the sell-off inPrologis shares following the print however, Prologis shares reflect these concerns, RBC added.