Equinix price target raised to $870 from $800 at BMO Capital

BMO Capital analyst Ari Klein raised the firm’s price target on Equinix to $870 from $800 and keeps an Outperform rating on the shares. The company’s upcoming Analyst Day next week should highlight the core value proposition of its premium platform and future growth opportunities, including AI, the analyst tells investors in a research note. BMO adds that the backdrop for data center demand is healthy, and it sees Equinix as well-positioned with a high-quality portfolio, global balance, a competitive moat via connectivity, pricing power, and a fortress balance sheet.