Jefferies Lifts Target on Equinix (EQIX) Following Solid Q1, Guidance

Jefferies boosted its price target on Equinix (NASDAQ: EQIX) from $165 to $175 following solid Q1 results and raised guidance.

The firm comments, "EQIX reported 1Q12 results that beat our/Street ests across the board. These results highlight why we like the stock from an execution perspective and its valuation relative to growth. Additionally, we continue to believe there is optionality on potential conversion to REIT structure. We expect Equinix to discuss the issue in greater detail at the June 20 Analyst Day."

FY12 EPS goes up from $2.48 to $2.65 while FY13 goes down from $3.47 to $3.19.

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 $149.47 yesterday.

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