
Shares of warehouse-focused real estate investment trust Prologis PLD.N up 1.1% at about $132 premarket
Scotiabank upgrades PLD to "sector outperform" from "sector perform", raises PT to $146 from $133
New PT represents 12.1% upside to stock's last close
Scotiabank says it expects better occupancy and strong growth in funds from operations for co, which should support higher valuations
Adds continued leasing strength in industrial properties and limited new supply are likely to keep occupancy levels healthy through the next two years
Brokerage raises its estimates for 2026 FFO per share to $6.11 from $6.08
Seventeen of 25 brokerages rate the stock "buy" or higher and eight "hold"; their median PT is $136.50 - data compiled by LSEG
PLD rose ~20.8% in 2025