BMO lifts Prologis PT on steady growth despite higher vacancies

** BMO raises PT on industrial REIT Prologis PLD to $105 from $95, maintains rating at "underperform"

** New PT shows a downside of 8.3% from the stock's last close

** BMO sees Prologis well-positioned for steady growth, supported by strong leasing activity, solid occupancy and disciplined development plans

** Brokerage says U.S. industrial vacancy has hit 7.5% in Q3 and is expected to peak at 8% by late 2026, while net absorption is projected to stay below new supply next year

** 16 of 24 brokerages rate the stock "buy" or higher, 7 "hold" and 1 "sell"; their median PT is $120 - data compiled by LSEG

** Including session moves, shares up 8.5% YTD