Key Takeaways
- • Jefferies raised its Prologis price target to USD 149 from USD 148 on November 2, 2026, while maintaining a Buy rating.
- • Jefferies models market rent growth of 0.2% in 2026 and 3.0% in 2027 across Prologis markets, with GAAP leasing spreads of 35.5% in 2026 and 29.4% in 2027.
- • The target increase reflects a modestly more constructive valuation view rather than a change in the broker's recommendation, per the report.
- • Prologis's third-quarter adjusted EPS of USD 0.86 beat a forecast of USD 0.7767, and revenue of USD 2.21 billion exceeded an expected USD 2.17 billion.
Summary
Jefferies raised its price target on Prologis Inc. (NYSE: PLD) to USD 149 from USD 148 on Monday, November 2, 2026, while keeping its Buy rating on the industrial real estate investment trust. According to Investing.com, citing Reuters, the change reflected updated financial projections for the warehouse and logistics property owner. The broker expects market rents to strengthen in 2027 across Prologis markets.
Jefferies models market rent growth of 0.2% in 2026 and 3.0% in 2027. It also projects GAAP leasing spreads of 35.5% in 2026 and 29.4% in 2027. These assumptions point to continued support from rent resets, although the report notes that the industrial property cycle remains uneven.
Because the rating was unchanged, the higher target represents a modestly more constructive valuation view rather than a shift in Jefferies' recommendation. Leasing spreads and occupancy are key indicators for Prologis, as they drive rental income from its logistics portfolio across North America, Europe and Asia.
The same report said Prologis's third-quarter adjusted earnings and revenue exceeded Wall Street expectations, with adjusted EPS of USD 0.86 against a forecast of USD 0.7767 and revenue of USD 2.21 billion versus an expected USD 2.17 billion. These results provide recent operating context, though the target increase itself is tied to Jefferies' updated projections.
For reference, Prologis stock traded at EUR 114.95 on Lang & Schwarz at 14:40 CET on November 3, 2026. ISIN: US74340W1036.
Jefferies models market rent growth of 0.2% in 2026 and 3.0% in 2027. It also projects GAAP leasing spreads of 35.5% in 2026 and 29.4% in 2027. These assumptions point to continued support from rent resets, although the report notes that the industrial property cycle remains uneven.
Because the rating was unchanged, the higher target represents a modestly more constructive valuation view rather than a shift in Jefferies' recommendation. Leasing spreads and occupancy are key indicators for Prologis, as they drive rental income from its logistics portfolio across North America, Europe and Asia.
The same report said Prologis's third-quarter adjusted earnings and revenue exceeded Wall Street expectations, with adjusted EPS of USD 0.86 against a forecast of USD 0.7767 and revenue of USD 2.21 billion versus an expected USD 2.17 billion. These results provide recent operating context, though the target increase itself is tied to Jefferies' updated projections.
For reference, Prologis stock traded at EUR 114.95 on Lang & Schwarz at 14:40 CET on November 3, 2026. ISIN: US74340W1036.
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