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Evercore ISI has raised its price target for ProLogis (NYSE:PLD) to $121 from $118, maintaining an 'In Line' rating. ProLogis is currently trading at $131.14, 2.8% below its 52-week high of $134.94. The update follows ProLogis's fourth-quarter results, with a 10.45% revenue growth over the past twelve months.

Evercore ISI increased its 2026 core funds from operations (FFO) estimate to $6.16 from $6.10, and its 2027 estimate to $6.73 from $6.67. The firm incorporated a higher data center value creation ratio in its net asset value (NAV) calculation, raising its NAV estimate by several dollars. Despite a solid quarterly performance, Evercore ISI noted that with shares trading at $131, it would await a better entry point.