Prologis (PLD) CEO Says Energy is Key For Data Center Buildout, Says Jim Cramer

We recently published 10 Stocks on Jim Cramer’s Radar.  Prologis, Inc. (NYSE:PLD) is one of the stocks on Jim Cramer's radar.

Cramer discussed warehouse real estate firm after speaking with the firm’s CEO on Mad Money. Prologis, Inc. (NYSE:PLD)’s shares have gained 23% year-to-date and the firm has seen several analysts share their thoughts about it in the meantime. For instance, BMO Capital upgraded the shares from Underperform to Market Perform and set a $119 share price target for Prologis, Inc. (NYSE:PLD) in October. The firm pointed out that the real estate company had transformed its data center business to an ownership model. During the same month, Truist raised Prologis, Inc. (NYSE:PLD)’s share price target to $131 from $120 and kept a Buy rating on the shares. The upgrade came after the firm’s third-quarter earnings report. More recently, BofA raised the share price target to $144 from $137 and kept a Buy rating. Ahead of his interview with Prologis, Inc. (NYSE:PLD) CEO Hamid Moghadam, Cramer wondered whether the stock was worth buying. In this appearance, he discussed the CEO’s comments about the data center buildout. With energy proving to be the biggest barrier to big tech’s AI ambition, Cramer revealed that Moghadam believes it might prevent excessive data center construction:

“I had the king of warehouses, on last night. Hamid Moghadam from Prologis. And he’s saying, the gating factor of energy is going to make it so we don’t overbuild.”

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Disclosure: None. This article is originally published at Insider Monkey.