Prologis climbs after Mizuho upgrades to 'outperform'

Shares of real estate investment trust Prologis PLD.N rise ~5% to $109

Brokerage Mizuho upgrades stock to "outperform" from "neutral"; raises PT to $118 from $109

Says the company is well-positioned to benefit from President Donald Trump's tax and spending bill, which allows faster depreciation on real estate and capital spending, encouraging large tenants to expand

Sees lower execution risk for co, given its rebounding leasing market share and reduced amount of leases expiring in second half of 2025

Investors will likely gravitate to PLD in a rate cut environment - brokerage

15 of 24 brokerages rate PLD "buy" or higher, 7 "hold" and two "sell"; their median PT is $120 - data compiled by LSEG

The stock has fallen ~11% in past 12 months