The Benchmark Co. Raises Its Price Target on Equinix

from Benzinga:

>>The Benchmark Company is out with a research report this morning, where it reiterates its Buy rating on Equinix Inc.; it also raised its price target to $95.00, from $83.00.

The analysts cited the company's recently announced quarterly guidance, which now matches their estimates from before the pre-announcement. After hours, Equinix traded to $80 per share, representing 8x 2011E EBITDA and 9x 2011 recurring free cash flow.

The analysts said, “Equinix guidance and industry trends indicate that growth could average 20% for the next few years. As such, the stock appears attractive. Our price target rises from $83 to $95 per share, or 9x 2011E EBITDA.”