Benchmark Raises PT on Equinix (EQIX) to $200; Outlook Robust

June 21, 2012 9:23 AM EDT Send to a Friend
Get Alerts EQIX Hot Sheet
Price: $207.37 --0%

Rating Summary:
    13 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 34 | New: 3
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Benchmark maintains a 'Buy' on Equinix (NASDAQ: EQIX) price target of $200.00 (from $170.00).

Analyst, Clayton F. Moran, said, "The company reiterated its forecast to achieve free cash flow next year and its goal to reach $3 billion in annual revenue by 2015 with an EBITDA margin around 50%. Equinix did not say anything meaningful about 2Q12 and 2012 guidance or the possible REIT conversion. We do not view this event as a positive catalyst for the stock. But we do believe the stock will go higher over the next 12 months and raise our price target to $200 per share. Our new target is based on 14x 2012E EBITDA, comparable to peers Digital Realty and Telecity."

For an analyst ratings summary and ratings history on Equinix click here. For more ratings news on Equinix click here.

Shares of Equinix closed at $171.92 yesterday.


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Analyst Comments, Analyst PT Change

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