>>Bank of America Merrill Lynch has a Buy rating and a $130 price target on shares of Equinix, Inc. after the bank hosted an investor meeting in London, and met with Eric Schwartz, President of Equinix Europe.
In a note to clients, Bank of America writes, "Mr. Schwartz believes he has good visibility into customer churn and bookings trends extending 6-24 months out as a result of ongoing conversations with customers, the lead time required for customers to plan for infrastructure requirements and install equipment, and the relatively high cost to switch facilities. With this visibility in mind, presumably Equinix's view of 2H11 performance has firmed up for the most part and given that the company has consistently reiterated confidence in achieving its 2011 guidance range during investor presentations, even as recently as a month ago, we see current guidance as very achievable and potentially conservative. Current EBITDA guidance of “greater than” $685m compares to consensus of $693m and our $712m which includes approximately a $12m contribution from the company's recently closed acquisition in Brazil which is not reflected in guidance."
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