Equinix (EQIX -2.6%) slips on a downgrade to Neutral from Citi's Michael Rollins. Though raising...

|By:, SA News Editor

Equinix (EQIX -2.6%) slips on a downgrade to Neutral from Citi's Michael Rollins. Though raising his PT to $240 from $220, Rollins is cutting his 2013 and 2014 adjusted funds from operations (AFFO) forecasts on a belief capex and tax rates will be higher than previously expected, and that Equinix will be unable to become a REIT before 2015. He also considers Equinix's risk-reward more balanced following a huge run-up. Q4 results arrive on Feb. 13. Rival Rackspace (RAX -4.5%) is seeing bigger losses.