Equinix price target raised to $870 from $835 at Stifel

Stifel analyst Erik Rasmussen raised the firm’s price target on Equinix to $870 from $835 and keeps a Buy rating on the shares. Equinix hosted their analyst day this week, with management laying out a comprehensive look at the business, providing long-term financial targets that continue to trend in the high-single digits/low double digits, as well as more details around AI and demand trends that are starting to emerge, the analyst tells investors in a research note. The company’s xScale business continues to remain robust and the firm is increasingly encouraged by the long-term vision as the company scales its business to win a meaningful share of key emerging trends that should drive profitable growth for the foreseeable future.