Evercore Partners Reiterates Overweight, $140 Target on Equinix

Read more: http://www.benzinga.com/analyst-ratings/analyst-color/12/02/2351212/evercore-partners-reiterates-overweight-140-target-on-eq#ixzz1maJRUdVb

Evercore Partners maintains its Overweight rating and $140 target price on Equinix on the heels of a solid fourth quarter and conservative guidance.

Evercore Partners notes, "EQIX reported another quarter of strong results – with revs and EBITDA 1% and 4% ahead of estimates. EQIX maintained prior revs and EBITDA guidance for 2012 – but indicated that the updated outlook incorporated a revs and EBITDA currency headwind of $15MM and $7MM, respectively. With less than seven weeks complete in 2012, we view mgmt's outlook as appropriately conservative. Finally, the company reiterated its on-going due diligence for REIT conversion. Net/net, with strong execution and highly achievable guidance – we continue to favor investment into EQIX."