JPMorgan raised the firm’s price target on Equinix to $975 from $950 and keeps an Overweight rating on the shares. The firm says the “enormous demand” for hyperscale data centers is driving the overall market and a secondary impact to colocation. Cloud and digital transformation demand is “robust” from enterprise customers, which are still evaluating their artificial intelligence needs, the analyst tells investors in a research note. JPMorgan sees Digital Realty and DigitalBridge as the best ways to play the AI data center trend.
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