JP Morgan Gives ‘Overweight’ Rating To Equinix, Inc (EQIX)

JPMorgan has released a research report on global data service company Equinix, Inc EQIX. It gave an ‘Overweight’ rating to the stock with a target price of $130. The stock is currently trading at $91.95. The company reported its Q2 results, which were far above the expectation of the analysts as strong demand for data center services continued across the region. The Adjusted EBITDA of $132.3 million was much higher than the analyst expectation of $128.2 million. The analysts feel that the company will continue to grow over next two quarters, citing the fact that the company is poised to take market share in collocation services. Hence, the company will have more visible revenue growth.