Equinix Sees Price Target Boosts from Barclays and Truist Analysts

Equinix, Inc. (NASDAQ:EQIX) is one of the stocks on Jim Cramer’s and analysts’ radar. On August 20, Barclays analyst Brendan Lynch increased the price target for EQIX to $804 from $798 while maintaining an Equal Weight rating. The firm updated its models within the data center sector. Meanwhile, on August 7, Truist analyst Anthony Hau increased the price target on the shares to $961 from $904 and maintained a Buy rating. The firm updated its model to reflect second-quarter results and revised revenue growth and expense assumptions.

Equinix Sees Price Target Boosts from Barclays and Truist Analysts

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Equinix, Inc. (NASDAQ:EQIX) provides a digital infrastructure platform designed to interconnect organizations with partners, services, or markets across its global network. It should be noted that Cramer was reluctant to recommend the stock on August 12, as he commented

“Equinix is still too expensive. That’s the commodity side of this business. I don’t want you in the commodity side. If it came much lower, we would take a really hard look at it.”

While we acknowledge the risk and potential of EQIX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EQIX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.