Wolfe upgrades Equinix to Outperform, says well-suited for retail inference

Wolfe Research upgraded Equinix (EQIX) to Outperform from Peer Perform with a $978 price target Reduced job/GDP growth estimates may place many REITs at risks, and Equinix’s strong balance sheet, low dividend payout, and large cash balance offer relative support in a downturn, the analyst tells investors in a research note. The firm added that, despite concerns over cheaper large language model builds and lower hyperscaler spend pressuring data center stocks, most Equinix revenue comes from retail, as wholesale exposure is largely offshore.