Prologis price target lowered to $106 from $111 at Evercore ISI

Evercore ISI lowered the firm’s price target on Prologis (PLD) to $106 from $111 and keeps an In Line rating on the shares post the Q1 report. While the company maintained fiscal 2025 core funds from operations guidance, it took down most of its capital deployment guidance items, the analyst tells investors in a research note. Prologis noted that demand had dropped off since tariffs were announced at the beginning of April, with leasing down 20%, adds Evercore ISI. The firm cut estimates to reflect the tariff uncertainty persisting.