Goldman Sachs raised the firm’s price target on Prologis (PLD) to $157 from $148 and keeps a Neutral rating on the shares after its Q1 FFO beat. The company discussed that demand remains resilient despite macro uncertainty as evident by record leasing activity in the quarter and the current leasing pipeline, the analyst tells investors in a research note. Prologis also has more confidence in the industrial demand environment improving, noting that 75% of its industrial starts in Q1 were speculative, and the announcement of five strategic capital vehicles in the last two quarters across a variety of geographies, the firm added.
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