Scotiabank upgrades Prologis rating on improving industrial demand
Shares of warehousing REIT Prologis PLD.N rise 0.8% to $112.20 premarket
Scotiabank upgrades rating to "sector perform" from "sector underperform"
Raises PT to $114 from $100, representing a 2.4% upside to stock's last close
"We are now less pessimistic on industrial demand trends following Q2 results and our recent conversations with brokers/private landlords" - Scotiabank
Brokerage sees PLD's valuation as fairly-priced vs other REITs and industrial peers
15 of 24 brokerages rate the stock "buy" or higher, seven "hold" and two "sell"; median PT is $120 - data compiled by LSEG
As of last close, shares up 5.4% YTD
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