Canaccord Genuity Reiterates a 'Buy' on Equinix (EQIX); REIT Conversion or Acquired?
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Price: $756.84 --0%
Rating Summary:
27 Buy, 13 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
Rating Summary:
27 Buy, 13 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
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Canaccord Genuity reiterates a 'Buy' on Equinix (NASDAQ: EQIX) price target raised from $170 to $175.
Analyst, Greg Miller, said, "Equinix reported results after the close that largely exceeded expectations, with an upward revision to guidance that includes a greater F/X headwind. In addition, the company did nothing to dismiss the belief it would consider a conversion to the REIT structure when it exhausts its NOLs. We continue to recommend the stock and are increasing our price target."
"With it likely the company will convert or be acquired by a data center-like
REIT, we find it appropriate to value the company accordingly. We are increasing our target to $175 per share from $170 that reflects 18.0x our revised 2013 AFFO estimate of $10.11 per share."
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.
Analyst, Greg Miller, said, "Equinix reported results after the close that largely exceeded expectations, with an upward revision to guidance that includes a greater F/X headwind. In addition, the company did nothing to dismiss the belief it would consider a conversion to the REIT structure when it exhausts its NOLs. We continue to recommend the stock and are increasing our price target."
"With it likely the company will convert or be acquired by a data center-like
REIT, we find it appropriate to value the company accordingly. We are increasing our target to $175 per share from $170 that reflects 18.0x our revised 2013 AFFO estimate of $10.11 per share."
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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