Prologis price target raised to $154 from $146 at Scotiabank

Scotiabank analyst Nicholas Yulico raised the firm’s price target on Prologis (PLD) to $154 from $146 and keeps an Outperform rating on the shares. The company’s Q1 results were “strong” and included a guidance raise, the analyst tells investors. Despite the macro and geopolitical backdrop, underlying logistics demand “positively surprised” management and the firm believes long-term value creation outweighs the friction from modest near-term headwinds from funds from operations per share.