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HSBC says buy this data center stock as AI drives growth
  + stars: | 2024-10-04 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
HSBC thinks Equinix could see strong growth ahead thanks to strong demand for artificial intelligence data centers. The company operates as a real estate investment trust (REIT) that focuses primarily on data centers. Kanumuri upgraded the data center stock to buy from hold and raised his price target to $1,000 per share from $865. "However, we see this as a value-accretive opportunity for Equinix to accelerate growth and improve revenue per data center in 2025." Of the 27 covering Equinix, 21 rate it as a buy or a strong buy.
Persons: Equinix, Phani Kanumuri, Kanumuri Organizations: HSBC, Microsoft Locations: Equinix
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