Prologis stock: Jefferies lifts target to USD 149 on rent growth

Jefferies raised its price target for Prologis to USD 149 from USD 148 on Monday, November 2, while maintaining a Buy rating on the industrial real estate investment trust. Investing.com, citing Reuters, said the higher target reflects updated projections for the warehouse and logistics property owner.

The broker is modeling market rent growth of 0.2% in 2026 and 3.0% in 2027 across Prologis markets. Jefferies also projects GAAP leasing spreads of 35.5% this year and 29.4% next year, pointing to a stronger expected rent environment even as the industrial property cycle remains uneven.

Rent Growth Drives Target Increase

The revised target gives investors a more constructive view of Prologis's operating backdrop, but it does not represent a change in the firm's Buy stance. The estimates focus on rent resets and leasing conditions, which are central to the earnings potential of a logistics landlord with properties across North America, Europe and Asia.

Recent quarterly performance provides additional support for the case. Prologis reported adjusted third-quarter earnings per share of USD 0.86, above the USD 0.7767 market expectation, while revenue reached USD 2.21 billion against a USD 2.17 billion forecast. The same report said investors were weighing a cautious outlook for capital markets and future guidance despite the earnings and revenue beats.

That balance leaves execution and financing conditions as the next important tests. Prologis has continued to attract differing views from analysts: BMO Capital reduced its target to USD 150 from USD 152 while keeping an Outperform rating, while Raymond James upgraded the stock to Outperform and pointed to improving industrial fundamentals expected in 2027. KeyBanc, by contrast, retained a Sector Weight view as it sees a gradual recovery in U.S. industrial conditions.

The real-time quote of Prologis stock showed 114.88 euros on Lang & Schwarz at 12:47 CET on Monday, November 2, 2026.

Broader conditions for U.S.-listed equities can be followed in the S&P 500 market reports.

Further company developments and analysis are available in more news and analyses on Prologis stock.