Prologis Buy Rating Reaffirmed on Data Center Growth and Upgraded 2026 Outlook; $158 Price Target Maintained
Complete. Here is the key summaryBMO Capital analyst John Kim reaffirmed a Buy rating on Prologis with a $158 price target, citing data center growth and an upgraded 2026 outlook. Barclays also assigned a Buy rating with a $156 target. The positive sentiment stems from Prologis's operational outperformance, resilient occupancy, solid NOI growth, and expanding data center development pipeline.
John Kim, an analyst from BMO Capital, maintained the Buy rating on Prologis. The associated price target remains the same with $158.00.
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John Kim has given his Buy rating due to a combination of factors, including Prologis’s continued operational outperformance and improved guidance metrics. The company once again lifted its 2026 Core FFO per share outlook, supported by robust fee-driven earnings, resilient occupancy levels, and solid same-store NOI growth, signaling durable cash flow momentum.
John Kim’s rating is based on the view that Prologis is effectively capitalizing on structural demand drivers, particularly through its expanding data center development and power pipeline. With nearly $802 million of second-quarter development starts tied to data centers and a 5.8 GW power pipeline, PLD is positioned for incremental growth, while the unchanged $158 price target reflects confidence in upside potential relative to current valuation.
In another report released today, Barclays also assigned a Buy rating to the stock with a $156.00 price target.