Nomura Lifts EQIX Target on REIT Conversion Plans

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Nomura Securities Buy Equinix (NASDAQ: EQIX) price target of $235.00 (from $210.00) following the REIT conversion update.

Analyst Mike McCormack, comments, "We believe the conversion to REIT status highlights further upside to Equinix shares. We are raising our target price from $210 to $235, representing 17x our 2013 AFFO estimate of $13.75 and supported by our DCF analysis. Equinix currently trades at ~13.5x our 2013 AFFO estimate, a discount to peer data center companies that have already elected REIT status in the 17x range."

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 $200.50 yesterday, with a 52 week range of $82.43-$212.00.

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