Cantor Fitzgerald Starts ProLogis (PLD) at Buy; De-levering Through Private Capital
PLD Hot Sheet
Rating Summary:8 Buy, 11 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Cantor Fitzgerald initiates coverage on ProLogis (NYSE: PLD) with a Buy. PT $37.00.
Cantor analyst said, "In our opinion, the contribution of assets to a new Japan fund and the resolution or contribution of PEPR properties to a new European fund are two key milestones to watch for that could cause the stock to outperform. While both are likely events in 2012-13, we believe that these milestones are in the second half of 2012, at best. (Investors should note that development today mostly remains a land-monetization event outside of Asia, and PEPR is a de-levering story.)"
For an analyst ratings summary and ratings history on ProLogis click here. For more ratings news on ProLogis click here.
Shares of ProLogis closed at $32.91 yesterday, with a 52 week range of $14.59-$37.46.
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Cantor analyst said, "In our opinion, the contribution of assets to a new Japan fund and the resolution or contribution of PEPR properties to a new European fund are two key milestones to watch for that could cause the stock to outperform. While both are likely events in 2012-13, we believe that these milestones are in the second half of 2012, at best. (Investors should note that development today mostly remains a land-monetization event outside of Asia, and PEPR is a de-levering story.)"
For an analyst ratings summary and ratings history on ProLogis click here. For more ratings news on ProLogis click here.
Shares of ProLogis closed at $32.91 yesterday, with a 52 week range of $14.59-$37.46.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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