Argus lowered the firm’s price target on Prologis (PLD) to $122 from $130 and keeps a Buy rating on the shares following the Q1 report. The target cut is driven by sector rotation as some income stocks have stalled and the potential for negative trading on tariff news, the analyst tells investors in a research note. The firm says Prologis did not report a decrease in assets as a result of environmental events, but its domestic occupancy decreased to 95.2% at the end of Q1.
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