UPDATE: Stifel Nicolaus Raises PT to $240 on Equinix; Fundamental Trends Remain Positive

Stifel Nicolaus reiterated its Buy rating on Equinix

and increased its price target from $200 to $240. Stifel Nicolaus noted, "Last week, we visited with Equinix's CEO & CFO and had three key takeaways: 1) we believe fundamental trends for Equinix remain positive; 2) although Equinix's REIT feasibility analysis remains a work in progress, we believe there were signs of some progress including management indicating it has a better grasp on the various issues that need to be considered; and 3) we believe that REIT or no REIT, capital return should become an increasing component of the story over the next few years." Equinix closed at $197.65 on Friday.