Prologis price target raised to $145 from $128 at RBC Capital

RBC Capital raised the firm’s price target on Prologis to $145 from $128 but keeps an Outperform rating on the shares. The firm is reducing its FY24 EPS view to $5.50 from $5.57 to mainly reflect lower promote income, but it still believes that Prologis will generate solid organic growth that should pick-up in 2025 as the company realized its embedded mark to market, the analyst tells investors in a research note.