HSBC analyst Phani Kanumuri upgraded Equinix to Buy from Hold with a price target of $1,000, up from $865. The firm says operational momentum for Equinix and Digital Realty are set to improve significantly in 2025. Data center demand has far outstripped supply in 2024, due to strong artificial intelligence-driven demand and constrained supply in major markets, yet the stocks have underperformed, the analyst tells investors in a research note. HSBC says improved utilization is likely to accelerate Equinix’s 2025 revenue growth to 10%.
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