Benchmark Reiterates Buy, $140 PT on Equinix

Benchmark reiterates its Buy rating and $140 target price on Equinix EQIX following a solid quarter and unchanged outlook. Benchmark says, "Last night, Equinix reported solid 4Q11 results and left 2012 guidance unchanged. The stock traded down after-hours but this was due to lack of upside, not any meaningful change to trends. Equinix is exploring a REIT conversion that likely takes about two years. We maintain a Buy rating." EQIX closed at $127.42 a share yesterday.