Analysts Are Increasing Price Targets of These 5 Stocks

In this article, we discuss the 5 stocks receiving price-target hike from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Increasing Price Targets of These 10 Stocks.

05. Equinix, Inc. (NASDAQ:EQIX)

Upside Potential: 14%

Equinix Inc (NASDAQ:EQIX) is an American multinational company specializing in internet connection and data centers. Equinix Inc (NASDAQ:EQIX) provides businesses with access to important locations, partners, and opportunities to quickly and effectively expand their digital services, enhance customer experiences, and increase their overall value.

Bank of America expects Equinix Inc (NASDAQ:EQIX) to continue its strong performance, leading to additional gains for investors. The bank reaffirmed its buy rating on Equinix shares, raising the price target from $750 to $850, indicating a potential upside of approximately 14% based on the closing price of $746.99. Equinix Inc (NASDAQ:EQIX) focus on network communications, coupled with its plans to expand its cloud segment and capitalize on the opportunities in artificial intelligence, were seen as positive indicators by BofA. Analyst David Barden highlighted the potential market size for AI infrastructure, projecting favorable long-term prospects for Equinix Inc (NASDAQ:EQIX). With a 14% increase year-to-date and recent outperformance of the S&P 500, Equinix Inc (NASDAQ:EQIX) stands out as Bank of America’s preferred data center pick. The stock’s closing price on June 23 was $746.11; thus, with a new target price of $850, it has an upside potential of 14%.

In its Q4 2022 investor letter, ClearBridge Investments, an investment management company, mentioned Equinix Inc (NASDAQ: EQIX). Here is what the fund said:

“Real estate holdings Equinix, Inc. (NASDAQ:EQIX) and Prologis (PLD) were standouts in a sector challenged by materially higher interest rates. Equinix is a best-in-class data center REIT with record leasing and backlog and a conservative balance sheet that should position it well in a downturn. Logistics real estate, meanwhile, has some of the most attractive market dynamics of all real estate subsectors, and Prologis is a clear leader within the group. Logistics real estate should continue to benefit from secular tailwinds of rising e-commerce penetration, ever faster delivery times, and supply chain resiliency (“just in case”).”