Equinix price target lowered to $750 from $810 at Citi

Citi analyst Michael Rollins lowered the firm’s price target on Equinix to $750 from $810 and keeps a Buy rating on the shares. The company’s results, commentary and guidance "provide an upbeat outlook" for normalized constant-currency organic revenue growth of 10-11% for 2022 and provide an "encouraging exit rate" for the organic growth in 2023, Rollins tells investors in a research note. The analyst dropped the price target to reflect the higher rate environment.