Equinix price target raised to $971 from $873 at Mizuho

Mizuho raised the firm’s price target on Equinix to $971 from $873 and keeps an Outperform rating on the shares after speaking with management. The company’s cab’s billing growth will improve in the second half of 2024 and when combined with strong pricing power, there is upside to monthly recurring revenue, the analyst tells investors in a research note. The firm sees “multiple levers” of earnings and sales growth for Equinix. While still a small part of the business, the company suggested a very robust demand pipeline for its xScale portfolio, adds Mizuho.