Equinix price target raised to $950 from $915 at Truist

Truist raised the firm’s price target on Equinix to $950 from $915 and keeps a Buy rating on the shares as part of a broader research note on REIT’s, updating the firm’s models to reflect Q4 results, recent events, and adjusted revenue growth and expense assumptions. Truist also raises the REIT’s 2024 AFFO view to $34.87 from $31.99, assuming 140bps increase in utilization rate, and a 5% increase in average monthly colocation revenue per installed cabinet.