Scotiabank has released its latest research report, downgrading data center operator Equinix's investment rating from "sector outperform" to "sector perform."
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However, the bank also significantly raised Equinix's target price from $997 to $1,050, demonstrating recognition of its long-term value. This rating adjustment reflects analysts' cautious outlook on the company's short-term growth prospects, but the increase in target price suggests its fundamentals remain solid.
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