Equinix price target raised to $1,020 from $975 at BMO Capital

BMO Capital analyst Ari Klein raised the firm’s price target on Equinix (EQIX) to $1,020 from $975 and keeps an Outperform rating on the shares. The company reported solid Q3 results with adjusted FFO per share upside and healthy underlying trends, the analyst tells investors in a research note. Cabinet adds turned positive and were the highest in two years, while its interconnections were solidly above the trailing 12 months average, and the company’s record gross bookings, elevated backlog, and pre-selling of future capacity increase visibility, the firm added.