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Mizuho Initiates Coverage On Equinix With Bullish Rating

·1 min read

Equinix Inc (NASDAQ: EQIX) is likely to generate strong earnings growth in 2020 and 2021, backed by favorable demand-supply trends, according to Mizuho.

The Equinix Analyst: Omotayo Okusanya initiated coverage of Equinix with a Buy rating and a price target of $800.

The Equinix Thesis: The Data Center REIT sector’s fundamentals should remain strong in 2021, Okusanya said.

He expects Equinix to continue to maintain its “superior earnings growth profile” going forward, given its high-quality portfolio and unique operating platform.

“We believe the laser-like focus on continuing to evolve the operating platform is also an effort by management to create further differentiation vs. peers, and adding new capabilities such as bare metal and virtual interconnection are steps in the right direction to generate higher monthly recurring revenues (MRR) per cabinet from the customer base, and to further reduce churn,” the analyst wrote in a note.

“We believe the recent sell-off on news of successful COVID-19 vaccines is overdone and investors should buy the dip,” he added.

EQIX Price Action: Shares of Equinix traded around $692.53 at the time of publication.

Latest Ratings for EQIX

Dec 2020

Mizuho

Initiates Coverage On

Buy

Oct 2020

BMO Capital

Maintains

Outperform

Oct 2020

Wells Fargo

Maintains

Overweight

View More Analyst Ratings for EQIX
View the Latest Analyst Ratings

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