Equinix price target raised to $825 from $800 at Wells Fargo

Wells Fargo analyst Eric Luebchow raised the firm’s price target on Equinix to $825 from $800 and keeps an Equal Weight rating on the shares. A slightly soft revenue guide was largely expected, and AFFO outlook above consensus should provide some support, the firm says. But Equinix did not alleviate concerns that underlying volume growth remains subdued, which leaves Wells on the sidelines at about 24-times AFFO.