UPDATE: JP Morgan Initiates Overweight Rating, PT of $120 on Equinix

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JP Morgan initiates an Overweight rating and a December 2012 target price of $120 per share on Equinix , Inc.
EQIX
as the company is seen at the intersections of several big trends in the data center industry. According to JP Morgan, “The $1.6B in expected revenue for 2011 makes Equinix the number one vendor in the co-location segment of the data center industry. The reliability, global footprint, and especially attractive interconnection capabilities that Equinix offers should keep it on top for years to come, in our view. … Demand for Equinix data center solutions is being spurred by several large trends including enterprises moving more solutions to both private and public clouds and users digesting more content over the Internet given the rapid increased use of mobile devices like smart phones for Internet access (mobile data).” EQIX traded at $91.71 on Thursday's close, down 1.2 percent.
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Posted In: Analyst ColorEarningsNewsPrice TargetInitiationAnalyst RatingsJP Morgan
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