HSBC starts ‘clear global leader in retail co-location’ Equinix with a Buy

As previously reported, HSBC initiated coverage of Equinix with a Buy rating and $875 price target. The data center market could grow at about 15% per year through 2030, driven by demand for higher storage and computing needs, the analyst forecasts. Equinix is the clear global leader in retail co-location and has built a strong ecosystem of services, has a strong balance sheet that provides capital flexibility, and its business model is more resilient than others to disruption from public cloud, the analyst tells investors.