Jefferies Downgrades Equinix (EQIX) to Hold

Jefferies downgraded Equinix (NASDAQ: EQIX) from Buy to Hold with a price target of $400.00 (from $380.00) on valuation.

Analyst Mike McCormack commented, "We downgrade Equinix from Buy to Hold, but raise our price target to $400 (~4.2% upside from current levels) reflecting a stronger growth outlook. We continue to believe Equinix is well positioned to benefit from the strong secular tailwinds of the cloud and an increasingly interconnected world. While estimates could push modestly higher, we believe upside is limited, and we look for a better entry point before becoming more constructive."

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 $383.81 yesterday.

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