Argus keeps a Buy rating and $842 price target on Equinix while naming the stock as one of the firm’s 2024 Top Picks. The company provides over 443,000 interconnections and operates 239 data centers on six continents, in 70 global metro areas, and 32 countries, with a growing focus on hyperscale centers, the analyst tells investors in a research note, adding that the data storage business should prove to be a good investment offering strong growth prospects in the EMEA and APAC regions while offsetting slower growth in North America.
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