Citi Upgrades Equinix Inc to Buy (EQIX)

Citi analyst Michael Rollins upgraded Equinix Inc (NASDAQ: EQIX) from Hold to Buy.

His stated reasons were:

"1) prospect for improving domestic revenue growth heading into the 2H/10 based on our recent sector checks and bottom-up revenue analysis;

2) we believe the revenue risk from Euro exposure is becoming better understood, while the organic demand environment should meet our expectations;

3) EQIX is making progress on its integration & synergy realization from its SDXC acquisition;

4) the valuation is discounting future growth prospects for the data center portfolio"