Equinix price target raised to $975 from $875 at Wells Fargo

Wells Fargo raised the firm’s price target on Equinix to $975 from $875 and keeps an Overweight rating on the shares. The firm remains constructive on data centers, as potentially record Q3 demand and market rent growth of 15%-25% help support valuations. Wells remains most positive on Equinix, where it sees most attractive risk/reward into outperforming expectations into 2025.