from Briefing.com:

>>Oppenheimer is downgrading EQIX to Perform on competitive concerns after the co last night lowered Q3 and FY10 rev and raised EBITDA guidance. Although the reduction in rev guidance was not materially large, they found the qualitative commentary regarding pricing/competitive issues more concerning. EQIX is beginning to see increased pricing pressure for larger customer accounts, particularly from wholesale providers, as incremental capacity becomes available in some markets. Higher churn/slower SDXC rev growth also raise concerns, though they expect mgmt to fix these issues

Kaufman is lowering their tgt to $81 from $88 as they are lowering 2011 expectations as a result of their increasing concern around co churn, potentially negative pricing in colocation and Equinix's ability to drive better rev synergies from its recent acquisition. Despite mgmt's indication that pricing remains strong, they believe that competition and supply are beginning to erode pricing stability in some of the colocation markets and may not become fully evident until 2011

Merriman lowers their valuation range to $100-120 from $120-140 to reflect the heightened risk of an over-supply situation developing. They believe that some of the reasons for the shortfall are of a transitional nature but others could be a reflection of an increase in the supply of data center space in the market. While this slows the co's growth down a bit, the stock has more than adjusted for that