Jonathan Petersen, an analyst from Jefferies, maintained the Buy rating on Equinix (EQIX – Research Report). The associated price target was raised to $990.00.
Jonathan Petersen has given his Buy rating due to a combination of factors that highlight Equinix’s strong financial performance and promising growth prospects. Equinix exceeded first-quarter AFFO estimates, showcasing robust financial health, and subsequently raised its guidance, driven by strong AI bookings and favorable foreign exchange conditions. The company is poised to benefit from the anticipated surge in enterprise AI investments, marking the beginning of a multi-year growth cycle.
Furthermore, Equinix’s financial metrics, including adjusted EBITDA and revenue, surpassed expectations, indicating operational efficiency and growth potential. The company is experiencing consistent demand for AI-related services, with significant contributions from top-tier deals. Additionally, Equinix’s strategic positioning in the AI market and its ability to maintain low net leverage compared to peers further support the Buy rating, as these factors suggest a strong foundation for future growth.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $1,050.00 price target.