Equinix’s Domestic Revenue Poised for Solid Growth In H2

Analysts at Citigroup upgrade Equinix Inc

from "hold" to "buy." The target price for EQIX is set to $110. According to Citigroup, the upgrade in the rating is based on, “1) prospects for improving domestic revenue growth heading into the 2H/10 based on our recent sector checks & bottoms-up revenue analysis; 2) we believe the revenue risk from Euro exposure is becoming better understood, while the organic demand environment should meet our expectations; 3) EQIX is making progress on its integration & synergy realization from its SDXC acquisition; & 4) the valuation is discounting future growth prospects for the data center portfolio, in our view.” “We find the valuation for EQIX has become more attractive, given the recent share price underperformance,” the analysts mention.