Equinix price target lowered to $859 from $862 at TD Cowen

TD Cowen lowered the firm’s price target on Equinix to $859 from $862 and keeps a Buy rating on the shares. The firm said they came away from its earnings call encouraged by its ability to navigate the DOJ/SEC subpoena following its independent investigation. Also management commentary on 1Q24 bookings on a kW basis and its near-term pipeline gives greater conviction in its ability to hit its 2024 net organic revenue growth guidance.