UPDATE: Citigroup Raises PT to $154 on Equinix

Citigroup maintains its Buy rating on Equinix

and raises its price target by $4 to $154 on rising sales and continued operational strength. Citigroup says, "Our analysis of gross revenue billings shows that: gross billings nearly doubled yoy to $29 mil. in 4Q/11; our upwardly revised revenue forecast for '12 of $1.88 bil. implies roughly flat gross billings relative to '11; & growth in gross revenue billings of 5-10% would support upside to revenue during 2012 of $15-$30 mil. that leaves us comfortable with the prospect for EQIX to meaningfully outperform our revenue forecast." EQIX closed at $127.42 yesterday.