Equinix price target raised to $785 from $725 at Morgan Stanley

Morgan Stanley analyst Simon Flannery raised the firm’s price target on Equinix to $785 from $725 and keeps an Equal Weight rating on the shares. The firm has increased its bear, base and bull case multiples to reflect both a multiple re-rating in the sector in-line with the five year industry trading average and updated quarterly results, the analyst tells investors.