Jefferies Starts Equinix (EQIX) at Buy, $165 Price Target

Jefferies initiates coverage on Equinix (NASDAQ: EQIX) with a Buy. PT $165.00.

"With premier retail data center locations at which large enterprises, content creators, and web players exchange traffic, we believe the Equinix story is extremely compelling. It has the largest retail data center footprint in the world. It is leveraging its significant ecosystems to drive revenue growth and create barriers to entry. The top line is tied to growth in Internet usage. Cash flow margins are close to 50%, and ongoing capex is manageable. To enhance shareholder value, EQIX is exploring alternatives like REIT structure, which could reduce cash taxes. Despite the recent run up in the stock, we believe there could be upside once EQIX decides on the optimal corporate structure."

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 $140.79 yesterday.

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