Piper Jaffray initiates coverage on Equinix (Nasdaq: EQIX) with a Buy rating and a $100 price target.
The firm calls Equinix the "best in class Internet data center company win strong recurring revenue." Piper believes demand for Internet data centers will grow at 3-4 times the rate of supply, implying the industry could be a nearly $34 billion group in 2010 from $18 billion last year.
Piper believes Equinix will be able to weather an economic slowdown as the firm expects a downturn could likely increase demand for outsourcing IT requirements by as much as 30%+.
Tuesday, September 9, 2008
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