Equinix upgraded to Outperform at Oppenheimer on AI strength

As previously reported, Oppenheimer upgraded Equinix to Outperform from Perform with an $875 price target. The firm thinks “AI-focused names,” like Equinix, are set to outperform as evidence accumulates that AI can lead to both major new revenue sources and massive productivity improvements. This, in addition to pricing power at Equinix, should lead to revenue acceleration in the second half of 2024 and beyond, the analyst tells investors.