RBC Capital lowered the firm’s price target on Equinix to $922 from $950 and keeps an Outperform rating on the shares. The company’s Q1 results were mixed as the management trimmed revenue and EBITDA guidance midpoints on FX headwinds, though Equinix had its highest Q1 bookings on record, with favorable pricing trends and lower-than-expected churn, the analyst tells investors in a research note. Equinix Board’s Audit Committee also concluded its independent investigation of the company’s financial reporting and concluded no restatements or adjustments were needed, the firm added.
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Read More on EQIX:
- Equinix price target lowered to $880 from $900 at Deutsche Bank
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- Equinix says Audit Committee concluded financial reporting has been accurate
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