Equinix Rated ‘Market Perform’ (EQIX)

Oppenheimer has adjusted its estimates for Equinix Inc. EQIX due to recent fluctuations in FX rates. Equinix Inc. (EQIX) derives approximately 21% of its revenue from Europe. The company is now expected to earn $1,226 million in revenue, down from an earlier estimate of $1,238 million. However, Equinix Inc. is expected to sustain its competitive advantage and pricing power for at least the next two years. The company is also likely to yield positive results from its acquisition of Switch & Data. The acquisition has helped Equinix in becoming the dominant U.S. neutral colo player. Oppenheimer has given a ‘Market Perform’ rating to the company. It also has maintained its cautious stand and believes that the stock is fairly valued at 10x ‘10E EV/EBITDA.