Research report: Foster City’s Equinix, Inc.

RBC Capital Markets analysts have revised their price target for Foster City’s Equinix, Inc. (EQIX) upward to $103 from $101. The company, which provides hosting and collocation facilities for internet and telecommunications equipment and connections, recently acquired IX Europe in a deal worth $482 million, a price RBC calls “fair.” That acquisition should provide growth opportunites. The company has also announced it expects second quarter earnings above guidance as well as estimates, with revenue at $90 million to $91 million. The stock has ranged from $47.93 to $96.23 over the past year.

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