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Upgrade Alert for ProLogis (PLD)

By James Quinn

ProLogis (NYSE:PLD) was upgraded from Underweight to Equalweight at Capital One today. The stock closed yesterday at $51.20 on volume of 1.7 million shares, below average daily volume of 3.0 million.

Over the past year, ProLogis has traded in a range of $35.25 to $54.87 and closed yesterday at $51.20, 45% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.5%.

Based on a current price of $51.20, ProLogis is currently 6.6% above its average consensus analyst price target of $47.82. ProLogis shares have support at the 50-day moving average (MA) of $43.38 and additional support at the 200-day MA of $41.16.

ProLogis provides distribution facilities and services. The Company has distribution facilities owned, managed, and under development in various markets throughout North America, Europe, and Asia. ProLogis leases industrial space to manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs.

SmarTrend is monitoring the recent change of momentum in ProLogis. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ProLogis in search of a potential trend change.

Keywords: analyst upgrades/downgrades ProLogis

Ticker(s): PLD