Wells Fargo Sticks to Its Buy Rating for Prologis (PLD)

In a report released today, Blaine Heck from Wells Fargo maintained a Buy rating on Prologis (PLDResearch Report), with a price target of $163.00. The company’s shares closed yesterday at $134.41.

Heck covers the Financial sector, focusing on stocks such as Duke Realty, Eastgroup Properties, and Prologis. According to TipRanks, Heck has an average return of 2.1% and a 54.84% success rate on recommended stocks.

Prologis has an analyst consensus of Strong Buy, with a price target consensus of $158.83, representing a 18.17% upside. In a report released on August 5, RBC Capital also maintained a Buy rating on the stock with a $172.00 price target.

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Based on Prologis’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.25 billion and a net profit of $611.39 million. In comparison, last year the company earned a revenue of $1.15 billion and had a net profit of $600.18 million

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PLD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Prologis, Inc. is a real estate investment trust which is engaged in the logistics real estate business. The company owns, operates and develops industrial real estate, with a focus on the consumption side of the global supply chain.

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