Morgan Stanley, which
initiated coverage of Prologis (NYSE:
PLD), is providing some color on the stock.
“We expect PLD to close its valuation gap vs. blue-chip REIT peers with a recovery in global momentum, a more profitable development platform and progress on deleveraging & fund initiatives,” Morgan Stanley writes. “Initiating coverage with an Overweight rating and a $43 price target.”
Prologis closed Wednesday at $36.00.
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