UPDATE: Collins Stewart Raises Price Target on Equinix to $150

According to Collins Stewart, Equinix (NASDAQ: EQIX) price target is raised to $150.

Collins Stewart said that despite heavier than expected FX headwind, Equinix reported solid results after the close last night with revenues of $431.3mm versus the expectations of $432.1mm and Street estimates of $429.5mm. “We note the company repurchased 870k shares in quarter at an average price of $99.57 consuming $87mm of the $250mm share repurchase authorization for the balance of 2012.”

Equinix closed yesterday at $127.42.