May. 7 at 4:32 PM
BMO upgrades Prologis, says its an AI derivative
Data center demand amid the artificial intelligence buildout is set to lead to tailwinds for Prologis
, according to BMO Capital Markets.
The bank upgraded the real estate company to outperform from market perform, and hiked its price target to
$162. That implies a 13% gain from Wednesday’s close. Analyst John Kim said that bullishness comes from the role Prologis will play in data center development.
“PLD has considerable ability to benefit from data center demand, both as a DC developer (3.7GW leaseable secured/late-stage) and industrial landlord, with data center suppliers representing 10% of PLD’s new leasing and the largest segment of the flourishing manufacturing leasing market in 1Q26,” Kim wrote in a Thursday note
$PLD