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J.P. Morgan reiterates an Overweight rating on Equinix
EQIX and raises its price target from $165 to $200.
J.P. Morgan remarks, “The EQIX analyst day was extremely well attended, but was more educational than incremental. There was no additional commentary about the potential transition to a REIT, as we expected, and management repeated (not reiterated) guidance for FY12. One key item we heard was increased confidence in driving towards $3B in revenue in FY15 with 50% EBITDA margins.”
Equinix closed at $171.92 on Wednesday.
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