UPDATE: Jefferies Raises PT on Prologis to $33

Jefferies is out with its report today on Prologis

, raising its PT from $15 to $33. In a note to clients, Jefferies writes, "We are adjusting our Price Target on PLD to $33 from $15 to match our most recent price target on AMB, which recently completed its merger with the 'old' PLD and changed its ticker to PLD. We have also updated our estimates to reflect the merger and new share count." Shares of PLD closed Thursday at $32.67, down 3.06% from Wednesday's close. Jefferies maintains Hold on PLD.