UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Raises PO on Prologis
In a report published Monday, Bank of America Merrill Lynch reiterated its Buy rating on Prologis (NYSE: PLD), and raised its price objective from $37.00 to $39.00.
BofA Merrill Lynch noted, “At the first investor day since AMB/PLD merged, PLD's regional and group heads discussed the opportunities ahead and how PLD is prepared for them. The tone was generally positive, consistent with the many warehouse companies from around the world that attended BofAML's Global Real Estate Conference in New York this past week. PLD has the largest global warehouse and funds management platform and a team it views as best in the business that is positioned to create shareholder value. Reiterate Buy with $39 PO (from $37).”
Prologis closed on Friday at $36.89.
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