Argus lowered the firm’s price target on Equinix (EQIX) to $955 from $972 but keeps a Buy rating on the shares. The stock has been volatile, reflecting Information Technology sector rotation, though the firm continues to see positive momentum for the shares based on fundamental growth and positive momentum in the income sector, the analyst tells investors in a research note. Argus adds that it sees data storage business as a good investment, with strong growth prospects in the EMEA and APAC regions offsetting slower growth in North America.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EQIX:
- Equinix price target raised to $990 from $970 at Citi
- Equinix’s Earnings Call: Positive Outlook Amid Challenges
- Equinix price target raised to $1,018 from $978 at TD Cowen
- Equinix: Strong Financial Performance and Strategic AI Positioning Justify Buy Rating
- Equinix’s Strong Performance and Strategic Focus on AI Drive Buy Rating