from StreetInsider.com:
>>Morgan Joseph Reiterates a 'Buy' on Equinix (EQIX)
Morgan Joseph reiterates a 'Buy' rating on Equinix, Inc. (Nasdaq: EQIX), price target $125.
Morgan analyst says, "Given Switch and Data's higher proportion of Interconnection revenue (approximately 30% compared to Equinix's 12% in 2009), we believe Equinix's Interconnection business should expand as well as its network density upon integration of the two businesses. We also expect the acquisition to bring additional markets such as Miami, Denver, Seattle, and Toronto while adding to high density markets such as Dallas, New York, and Silicon Valley. Given our estimated contribution from Switch and Data, we are adjusting our 2010 and 2011 estimates. We now estimate 2010 sales and adjusted EBITDA of $1.23bn and $533mm, up from $1.07bn and $480mm, while for 2011, we now estimate $1.51bn and $665mm, up from $1.30bn and $588mm, respectively."
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J.P. Morgan resumed coverage of Equinix with Overweight Rating and $ 130 Price Target, and Bank Of America Merril Lynch also has a Price Objective of $ 130 (Buy).
Monday, May 10, 2010
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