Wells analyst says, "In our opinion, the network-neutral data center space represents a safe, derivative play on the continued growth of IP and Internet traffic. Near term, we think retail pricing is relatively stable and that demand trends remain strong. As a result, we think EQIX has the potential to exceed EBITDA estimates in 2012. Additionally, expansion initiatives and its continued ability to scale margins could provide a catalyst to EQIX shares longer term. Lastly, the potential to reallocate cash to shareholders and achieve positive FCF in 2013 should create an opportunity for multiple expansion. Introducing 2011E EBITDA/share est of $15.14 and 2012E of $17.54."