Benchmark Capital Raises PT on Equinix to $105 (EQIX)

Benchmark Capital is out with its report today on Equinix EQIX, raising its price target from $95 to $105. In its report, Benchmark notes, "Equinix will report 4Q10 results on Wednesday, February 9 after the stock market closes. After last week's announced tender offer for Terremark by Verizon, we view data center assets as increasingly strategic and valuable. We raise our price target from $95 to $105 per share, based on 10x 2011E EBITDA. This is supported by around 20% EBITDA growth this year and next and the possible achievement of free cash flow this year. We maintain a Buy rating." At the time of posting, shares of EQIX were trading at $89.86, up 0.54% from Tuesday's close.