Freedom Broker's Oct. 19 assessment of Prologis, Inc. paired a rating upgrade with a lower $142 price target, reflecting its view that the stock's decline left shares below that revised target.
The brokerage raised its rating on the industrial real estate investment trust to Buy from Hold while cutting its previous $165 target. In comments reproduced by StreetInsider, Freedom Broker analyst Zhiger Kurmet cited the lower share price as the reason for the upgrade. The reproduced comments say he reduced his estimates for 2027 and 2028 and assumed a higher cost of capital when setting the new target.
In its third-quarter earnings release, Prologis reported revenue of $2.39 billion, compared with $2.21 billion a year earlier. Core funds from operations (Core FFO), a non-GAAP measure, rose to $1.60 per diluted share from $1.49.
Prologis also narrowed its 2026 Core FFO outlook to $6.25 to $6.29 per share from $6.22 to $6.30. It lowered its net earnings forecast to $4.05 to $4.15 per share from $4.40 to $4.55.
