Market Overview

UPDATE: Citigroup Downgrades Equinix to Neutral on Balanced Risk/Reward

Related EQIX
Options Traders Should Be Wary Of Geopolitical Risk
Benzinga's Top Initiations

Citigroup downgraded Equinix (NASDAQ: EQIX) from Buy to Neutral and raised the price target from $220.00 to $240.00.

Citigroup noted, "We believe the risk-reward scenario for Equinix shares has become more balanced, & we are reducing our rating from Buy to Neutral, while increasing our target to $240 given: 1) downward adjustments to our AFFO per share estimates partly based on some further analysis of the company's capital spending categories, while REIT conversion is still likely a calendar-year 2015 event; 2) we do not see meaningful upside potential to the consensus 2013 revenue outlook given some headwinds from Europe and churn optimization during at least the 1H/13."

Equinix closed at $222.69 on Monday.

Posted-In: CitigroupAnalyst Color Downgrades Analyst Ratings

 

Related Articles (EQIX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters