Bank of American Reiterates Buy, $33 PO on Prologis

Bank of America maintains its Buy rating and $33 target price on Prologis PLD as the company posts significant beat to estimates and consensus for the quarter. Bank of America says, "Progress made on all fronts leading to strong '12 guidance In our view, 4Q11 results along with '12 guidance demonstrate the progress PLD has made over the last couple years. The better than expected 2012 core forecast and merger synergies, give us comfort PLD continues to move in the right direction. We recognize there are still risks to the story; however, in our view, those risks are properly priced in. We believe guidance will relieve some of the concerns in the marketplace and expect shares to continue to outperform." PLD closed at $33.29 a share on Tuesday.