BofA analyst Michael Funk lowered the firm’s price target on Equinix (EQIX) to $950 from $1,000 and keeps a Buy rating on the shares after the company held its analyst day yesterday. Lower than previous AFFO per share and dividend growth guidance, coupled with levering up for future growth, was a “negative short term shock to sentiment,” the analyst says following the event. However, strong projected AI inference growth and commentary on customer demand “justifies the investment,” adds BofA, which views Equinix as “a primary beneficiary of secular AI growth.”
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