Equinix price target raised to $1,025 from $936 at RBC Capital

RBC Capital analyst Jonathan Atkin raised the firm’s price target on Equinix (EQIX) to $1,025 from $936 and keeps an Outperform rating on the shares. The firm is citing the stock’s more constructive valuation parameters and flow-through impacts of the company’s “solid” Q3 earnings and higher guidance, the analyst tells investors in a research note. Equinix should outperform its peers based on the company’s superior brand and premium positioning in the market, coupled with leadership in eco-systems, which provides a measure of pricing power vs. peers, RBC added, noting that the company’s REIT conversion further provides for a sustainable, tax-efficient structure over the longer term.