Prologis price target lowered to $159 from $160 at Barclays

Barclays analyst Anthony Powell lowered the firm’s price target on Prologis to $159 from $160 and keeps an Overweight rating on the shares. The company’s acquisition of a $3.1B portfolio from Blackstone suggests buyers and sellers may be starting to see eye to eye, which would be positive as it could increase deal activity, the analyst tells investors in a research note. While potential softer demand for large buildings in Southern California could be a headwind for Prologis, the “choppiness: there is “likely temporary for now,” says the firm.