Piper Jaffray Initiates Coverage on Equinix (EQIX) with a Buy; Peer Group Leader

Piper Jaffray & Co. initiates coverage on Equinix Inc. (Nasdaq: EQIX) with a Buy. Price target $75.

Piper analyst says, "Equinix is the clear leader in its peer group. It is carrier neutral, meaning customers can choose from over 200 telecom providers, it is the only truly global provider, and it has created a network effect in its data centers that customers pay a premium for...Equinix has enough capital to expand its portfolio in '09 and gain further share, but it also has the discipline to pull back quickly in response to demand trends. Equinix could be a consolidator of attractively priced assets. The current management team has consistently met and beat expectations. Acquisitions have been prudent, and very well timed."