BTIG Positive on Prologis (PLD) Following 'Beat-and-Raise' Quarter
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BTIG affirms Prologis (NYSE: PLD) at Buy with a price target of $60 after the company issued strong Q3 results and boosted guidance.
The firm summarized:
Prologis reported 3Q16 core FFO/sh of $0.73, $0.03 higher than our estimate and the Street. The company raised its FY guide by $0.015 to $2.565 at the mid-point. The new guide appears conservative given the $0.03 outperformance in 3Q, higher FY SSNOI guide (up 65bps to 5.65%), and positive leasing momentum.
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