Equinix (EQIX) PT Raised to $971 at Mizuho

Mizuho analyst Omotayo Okusanya raised the price target on Equinix (NASDAQ: EQIX) to $971.00 (from $873.00) while maintaining a Outperform rating.

The analyst commented: "Our new AFFO for 2024E and 2025E is $35.16 and $38.85 compared to prior of $35.13 and $37.97, respectively. The increase is due to better than unanticipated 2Q result, better cabs billing growth combined with higher pricing and margin expansion. Additionally, we increase our PT to $971 applying 25x multiple on our 2025 estimates."

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