“Post the Fall 2010 miss, Equinix's EQIX stock has gone from boom to bust to boom again,” Piper Jaffray wrote in a report. “While some might argue that the stock is fairly valued given that it has recovered to near pre-miss levels, we believe that additional upside remains.
“Business trends have improved since last year, with global outsourcing trends continuing and expanding opportunities in cloud computing and SaaS presenting themselves. To justly value Equinix, we think investors need to look at recurring free cash flow, which suggests meaningful upside from current levels.”
Equinix closed Thursday at $101.02.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in