BofA upgrades Prologis rating to 'buy', lifts PT
** BofA upgrades rating on shares of industrial REIT Prologis PLD.N to "buy" from "neutral"
** Rating raised citing better occupancy trajectory, development lease-up and operating margins, compared with the brokerage's prior view
** Lifts PT to $130 from $118, representing a 12% upside to the stock's last close
** Expects PLD to convert pent-up demand before "Liberation Day" into signed leases, as tariff uncertainty slowly clears out and tenants begin to make decisions
** "That conversion of new lease proposals into signed leases during 3Q is occurring at a better rates than during 2Q is a positive" - BofA
** BofA says anticipated rate cuts "could spark interest from generalists including income investors in blue-chips like PLD"
** 16 of 24 brokerages rate the stock "buy" or higher, 7 "hold" and 1 "sell"; their median PT is $120 - LSEG compiled data
** Including session gains, stock had risen ~8% YTD
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