Canaccord Genuity Raises Price Target on Equinix (EQIX); REIT Conversion Becoming Inevitable

Canaccord Genuity maintains a 'Buy' on Equinix (NASDAQ: EQIX) price target of $195.00 (from $175.00).

Analyst, Greg Miller, said, "With yet another solid quarter report in which the company met revenue expectations and exceeded EBITDA and cash flow estimates while increasing 2H12 guidance, we remain confident that the stock will continue to outperform the market. As the company approaches the time in which REIT conversion becomes inevitable, we believe it will increasingly take on higher REIT-like valuation."

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 $161.37 yesterday.

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