UPDATE: Stifel Nicolaus Raises PT to $265 on Equinix on Q4 Results, Conservative Guide
Stifel Nicolaus maintained Equinix (NASDAQ: EQIX) with a Buy and raised the price target from $240.00 to $265.00.
Stifel Nicolaus commented, "Equinix's solid 4Q12 results reflect a continued healthy growth outlook for Equinix and the broader network dense colocation sector. Top line growth trends remain positive across geographies and verticals with the majority of key metrics trending positively. The company's margin performance was slightly better-than-expected reflecting a continued focus on driving profitable growth. The company maintained its 2013 outlook, which we believe reflects the company's historical conservative tack. As the largest and only global provider of network dense colocation services, we believe Equinix remains well positioned to sustain healthy growth and we see an upward bias to estimates."
Equinix closed at $213.02 on Wednesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.