In a report released today, Sachin Mittal from DBS maintained a Buy rating on Equinix (EQIX – Research Report), with a price target of $1,218.00.
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Sachin Mittal has given his Buy rating due to a combination of factors that highlight Equinix’s strong market position and growth potential. The company is a global leader in the data center industry, holding a significant share in the global retail colocation market with a vast network of data centers across multiple continents. This extensive reach, coupled with a highly interconnected ecosystem serving over 10,000 customers, positions Equinix favorably in the market.
Furthermore, Equinix’s solid financial performance and growth prospects contribute to the Buy rating. The company has demonstrated consistent revenue growth over the past two decades and maintains a robust EBITDA margin. With ongoing expansion plans, including a joint venture to develop advanced data centers, Equinix is well-positioned to capitalize on future demand. Additionally, its diverse customer base across various industries mitigates macroeconomic risks, providing stability and resilience in its revenue streams.
In another report released on May 23, Citizens JMP also reiterated a Buy rating on the stock with a $1,200.00 price target.