Analyst Explains Why They Upgraded Their Rating on Equinix (EQIX)


In a report released today, Frank Louthan from Raymond James upgraded Equinix (EQIX) to Buy, with a price target of $856.00. The company’s shares closed last Wednesday at $751.00.

According to TipRanks.com, Louthan is a 3-star analyst with an average return of 3.1% and a 58.7% success rate. Louthan covers the Technology sector, focusing on stocks such as GTT Communications, GDS Holdings, and Verizon.

Equinix has an analyst consensus of Strong Buy, with a price target consensus of $839.20, representing a 10.9% upside. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $820.00 price target.

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The company has a one-year high of $839.77 and a one-year low of $477.87. Currently, Equinix has an average volume of 497.2K.

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Equinix, Inc. engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific. The company was founded on June 22, 1998 and is headquartered in Redwood City, CA.

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