Jefferies initiates its coverage on Equinix EQIX with a Buy rating and a price target of $165 on upside from retail/cloud side of the data center space.
Jefferies notes, "We Believe the Equinix Story is Extremely Compelling. It has the largest retail data
center footprint the world. It is leveraging its significant ecosystems to drive revenue growth and create barriers to entry. To enhance shareholder value, EQIX is exploring alternatives like the REIT structure, which could reduce cash taxes substantially. Despite the recent run up in the stock, we believe there could be upside once the company decides on the optimal corporate structure."
EQIX closed at $140.62 a share on Tuesday.
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