UPDATE: Bank of America Raised PO to $215 on Equinix on Positive Data Demand Outlook
Bank of America reiterated its Buy rating on Equinix (NASDAQ: EQIX) and raised its price objective from $180 to $215.
Bank of America commented, "We continue to view current guidance as conservative at ‘greater than $880m' for 2012 EBITDA. Applying the 2Q organic EBITDA growth rate of ~$10m to forward Stock Data quarters, less $7m for 3Q power needs, $6m for 2H FX pressure and adding Price $10m for M&A nets to ~$900m for the year. We believe even this calculation is Price Objective conservative on multiple fronts given 1) rising sales force productivity, 2) Date Established accelerating growth at acquired businesses and 3) IT expenses tailing off."
Equinix closed at $188.63 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.