Prologis shares are trading lower after Goldman Sachs downgraded the stock from Buy to Neutral and lowered its price target from $142 to $132.
Portfolio Pulse from Benzinga Newsdesk
Prologis shares declined following a downgrade by Goldman Sachs from Buy to Neutral, with a reduced price target from $142 to $132.
October 21, 2024 | 5:58 pm
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NEGATIVE IMPACT
Goldman Sachs downgraded Prologis from Buy to Neutral and reduced its price target from $142 to $132, causing the stock to trade lower.
The downgrade by a major financial institution like Goldman Sachs typically leads to a negative market reaction, as it reflects a less optimistic outlook. The reduction in the price target further supports the likelihood of a short-term decline in Prologis' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100