UPDATE: Jefferies Downgrades Equinix (EQIX) to Hold

Jefferies analyst Jonathan Petersen downgraded Equinix (NASDAQ: EQIX) from Buy to Hold with a price target of $840.00 (from $970.00).

The analyst comments "In addition, data center REITs have historically underperformed relative to other REITs during periods of rate hikes. In the most recent period from Nov 2020 to Apr 2021, Data Centers performed 23.4% worse than the broader REIT sector (Exhibit 31). We see this as a downside for EQIX going into 2022, as the Fed is expected to implement several rate hikes throughout the year."

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 $774.94 yesterday.

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