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Investing.com - Citi maintained its buy rating and $990.00 price target on Equinix (NASDAQ:EQIX) stock Tuesday, one day before the data center company’s scheduled analyst day.
The research firm noted investor sentiment appears more positive than anticipated, with survey respondents showing unexpected enthusiasm about Equinix’s multi-year revenue growth and adjusted funds from operations per share (AFFOPS) potential.
Citi indicated this optimistic outlook contrasts with recent investor conversations that suggested expectations were merely for a continuation of previous guidance ranges.
Despite maintaining a positive 12-month outlook on the stock, Citi acknowledged that investor expectations heading into Wednesday’s analyst day may be higher than previously assessed.
The firm does not anticipate Equinix will substantially change its annual multi-year guidance from 2023 levels, citing the company’s revenue performance over the past two years.
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