Prologis Gets a Reality Check: Raymond James Sees Quality, but Not a Bargain Yet

Raymond James likes the operator, but not the price

Raymond James restarted coverage today with a Market Perform rating and has not set a price target at this time. For investors, that reads as a cautious rather than dismissive view: Prologis still looks like a credible logistics platform, but near $141.60 it does not yet look obviously undervalued.