Oppenheimer raised the firm’s price target on Equinix (EQIX) to $975 from $950 and keeps an Outperform rating on the shares. The firm notes Equinix grew Q4 revenue 6% on a normalized basis and EBITDA grew 9% CC with AFFO up 10% CC, slightly below expectations. The company delivered record quarter and full-year bookings again, supported by strong AI-driven demand. As expected, headline guidance was weak, but normalized for FX, Power and bare metal shutdown was in line at 7%-8%, but this is driving EBITDA margins to 50% in the second half of 2025, Oppenheimer adds. The firm believes Equinix is well positioned to provision AI infrastructure.
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