Bank of America Securities analyst David Barden reiterated a Buy rating on Equinix (EQIX – Research Report) today and set a price target of $1,080.00.
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David Barden has given his Buy rating due to a combination of factors that highlight Equinix’s strong market position and potential for growth. Equinix is trading at a premium compared to its peers, reversing its previous discount, which underscores its robust performance in the Communications Infrastructure sector. The firm is expected to report insights on enterprise demand and pricing power, which are crucial indicators of its market strength and future revenue potential.
Furthermore, Equinix is expanding its xScale business, which is seen as a significant growth driver alongside its retail colocation services. The ongoing construction of a major campus for the xScale portfolio and plans to secure further land and power supply through a substantial joint venture demonstrate the company’s strategic growth initiatives. These elements, along with anticipated updates on their capacity expansion and financial guidance, support Barden’s positive outlook and Buy rating on Equinix’s stock.
In another report released on February 6, JMP Securities also maintained a Buy rating on the stock with a $1,200.00 price target.