Equinix Downgraded To Buy/High Risk

Citigroup has published a research report for Equinix Inc. (NASDAQ: EQIX) with a new price target, stating:

"We remain a Buyer of EQIX with potential catalysts from: 1) accelerating revenue growth in the 2H/10 with favorable demand; 2) upside potential to consensus revenue for ‘11; & 3) discounted valuation to its peers with favorable attractive growth prospects & improving financial flexibility to consider cash repatriation options for shareholders over time. Target price increased to $121.
Also, we are reducing our risk rating to High."

The price target for Equinix is up from $110, and the rating has been reduced from Buy/Speculative to Buy/High Risk.

Equinix, Inc. closed yesterday at $100.63.