Morgan Stanley Sees Balanced Risk/Reward for Equinix

In a report published Thursday, Morgan Stanley analyst Simon Flannery reiterated an Equal-Weight rating on

. In the report, Morgan Stanley noted, “Solid results were driven by EMEA and AP. FY revenue and EBITDA guide was up 0.6% and 0.5%, respectively, half of which was better FX. EQIX has not received a PLR from the IRS on a 2015 REIT conversion, although others have recently gotten them. We see a balanced risk reward at these levels.” Equinix closed on Wednesday at $187.81.