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SunTrust reiterates Buys on Equinix, DFT as cloud heats up

Jan. 29, 2016 8:02 PM ETEquinix, Inc. (EQIX) StockEQIX, DFTBy: Jason Aycock, SA News Editor
  • Data-center REITs Equinix (EQIX +3.5%) and DuPont Fabros Technology (DFT +1.9%) had Buy ratings reiterated by SunTrust Robinson Humphrey, with an eye toward the solid cloud computing growth shown by Amazon.com and Microsoft.
  • As cloud players compete, the firm's Inder Singh writes, it's "fueling data center demand."
  • "We believe DFT continues to win deals due to its scale and density and remains a major enabler of the cloud," Singh says, "counting Microsoft (22.7% of annualized rent as of 3Q15), Rackspace (10.3%) and a Fortune 1000 leading Software as a Service (SaaS) Provider (6.5%) as its top customers."
  • Equinix benefits from a large footprint and its scale, he says. "While Equinix has a well distributed customer list with its top 10 customers only accounting for roughly 16.5% of revenue as of the end of 3Q15, Cloud customers make up four of its top 10 customers accounting for roughly 8.5% of revenue."
  • Previously: Equinix closes Telecity deal, becomes top data center player in Europe (Jan. 15 2016)
  • Previously: SunTrust bullish on data centers, picks CONE, DFT, EQIX (Nov. 24 2015)

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