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EQIX

Equinix

$468.38

-6.04 (-1.27%)

, DLR

Digital Realty

$120.85

-3.9331 (-3.15%)

12:50
09/13/17
09/13
12:50
09/13/17
12:50

Data Center REITs lower after cautious comments from Palihapitiya

Shares of Data Center Real Estate Investment Trusts are moving lower after Social Capital's Chamath Palihapitiya said yesterday at CNBC's Delivering Alpha conference that the space may become obsolete as chips shrink in size. Google (GOOG, GOOGL) is reportedly developing a chip that runs 50% of all its computing on 10% of the silicon, Palihapitiya said. He added, "We can literally take a rack of servers that can basically replace seven or eight data centers and park it, drive it in an RV and park it beside a data center. Plug it into some air conditioning and power and it will take those data centers out of business." Shares of Equinix (EQIX), Digital Realty (DLR), CoreSite Realty (COR), QTS Realty Trust (QTS), CyrusOne (CONE) and DuPont Fabros (DFT) are trading lower on the day.

EQIX

Equinix

$468.38

-6.04 (-1.27%)

DLR

Digital Realty

$120.85

-3.9331 (-3.15%)

COR

CoreSite Realty

$111.80

-3.37 (-2.93%)

QTS

QTS Realty Trust

$53.72

-1.79 (-3.22%)

CONE

CyrusOne

$63.67

-1.28 (-1.97%)

DFT

DuPont Fabros

$65.89

-1.99 (-2.93%)

  • 13

    Sep

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    Sep

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    Sep

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    Nov

EQIX Equinix
$468.38

-6.04 (-1.27%)

05/25/17
NOMU
05/25/17
INITIATION
Target $490
NOMU
Buy
Equinix initiated with a Buy at Nomura Instinet
Nomura initiated Jeffrey Kvaal initiated Equinix with a Buy and a $490 price target saying its scale positioned it well for the cloud migration, which the firm's networking coverage suggests is accelerating. The analyst's estimates are above consensus as each new connection raises the value of Equinix's connectivity.
05/11/17
ADAM
05/11/17
NO CHANGE
Target $525
ADAM
Buy
Equinix price target raised to $525 from $465 at Canaccord
Canaccord analyst Paul Morgan raised his price target on Equinix to $525 from $465 following meetings with management. The analyst said he sees near-term upside from the portfolio's top asset, selling into 600 new customer logos, and absorbing capacity from other locations. Morgan sees Equinix as well positioned to deliver double digit secular growth and he reiterated his Buy rating on the shares.
09/11/17
MUFG
09/11/17
NO CHANGE
Target $504
MUFG
Equinix price target raised to $504 after European acquisitions at MUFG
After Equinix (EQIX) announced an agreement to purchase Itconic and Cloudmas from the Carlyle Group (CG), MUFG analyst Stephen Bersey said he thinks Itconic's data centers may have room to be developed and that Equinix can generate added upside from existing space by increasing utilization rates. The analyst, who called the European acquisitions "a solid strategic addition," raised his price target on Equinix to $504 from $471 and keeps an Overweight rating on the stock.
06/30/17
FBCO
06/30/17
INITIATION
Target $510
FBCO
Outperform
Equinix initiated with an Outperform at Credit Suisse
Credit Suisse analyst Sami Badri started coverage of the Data Center REITS, initiating Equinix with an Outperform rating and $510 price target, contending that the company has a "wide lead" on interconnection peering points and customer interconnection services and that it is leading the "colocation boom."
DLR Digital Realty
$120.85

-3.9331 (-3.15%)

06/12/17
COWN
06/12/17
UPGRADE
Target $126
COWN
Outperform
Digital Realty upgraded to Outperform from Market Perform at Cowen
Cowen analyst Colby Synesael upgraded Digital Realty (DLR) to Outperform from Market Perform following its announcement of a deal to acquire DuPont Fabros (DFT). He believes the acquisition enhances its revenue and FFO/AFFO per share growth profile, its strategic value to hyper-scale customers, and DuPont's customer concentration risk becomes less concerning. Synesael raised his price target to $126 from $106 on Digital Realty shares.
06/12/17
RBCM
06/12/17
NO CHANGE
RBCM
Digital Realty synergy guidance conservative, says RBC Capital
After Digital Realty (DLR) agreed to buy DuPont Fabros (DFT), RBC Capital analyst Joanthan Atkin says that the synergy guidance for the deal is conservative given DuPont Fabros' high general and administrative spending levels. The analyst adds that DuPont's development pipeline could help generate "top-line synergies and drive favorable commercial terms with tenants." The analyst keeps an Outperform rating on Digital Realty and downgraded his rating on DuPont to Sector Perform from Outperform today based on valuation.
06/12/17
RBCM
06/12/17
DOWNGRADE
RBCM
Sector Perform
DuPont Fabros downgraded on valuation at RBC Capital
As noted earlier, RBC Capital downgraded DuPont Fabros to Sector Perform from Outperform. Analyst Jonathan Atkin downgraded the stock based on valuation after the company agreed to be acquired by Digital Realty (DLR).
06/09/17
RHCO
06/09/17
NO CHANGE
RHCO
Interxion less likely to be bought by Digital Realty after deal, says SunTrust
After Digital Realty (DLR)and DuPont Fabros (DFT) agreed to merge, SunTrust believes that the chances of Digital Realty buying Interxion have dropped. However, the firm continues to view Interxion "as a likely acquisition candidate."
COR CoreSite Realty
$111.80

-3.37 (-2.93%)

05/17/17
WELS
05/17/17
INITIATION
Target $94
WELS
Market Perform
CoreSite Realty initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Eric Luebch started CoreSite Realty with a Market Perform rating and $94 price target.
05/17/17
05/17/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CoreSite Realty (COR) initiated with a Market Perform at Wells Fargo. 2. Acceleron (XLRN) initiated with a Sell at Goldman Sachs. 3. Cardinal Health (CAH) initiated with a Hold at Jefferies. 4. Concho Resources (CXO) assumed with an Overweight at Piper Jaffray. 5. Triangle Capital (TCAP) initiated with a Buy at Wunderlich. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/30/17
FBCO
06/30/17
INITIATION
Target $103
FBCO
Neutral
CoreSite Realty initiated with a Neutral at Credit Suisse
Credit Suisse analyst Sami Badri started coverage of the Data Center REITS, initiating CoreSite Realty with a Neutral rating and $103 price target, saying that upside is already priced in at current levels.
05/03/17
SBSH
05/03/17
DOWNGRADE
Target $103
SBSH
Neutral
CoreSite Realty downgraded to Neutral from Buy at Citi
Citi analyst Michael Rollins downgraded CoreSite Realty to Neutral saying the current valuation limits upside potential. The analyst raised his price target for the shares to $103 from $98 following the Q1 results.
QTS QTS Realty Trust
$53.72

-1.79 (-3.22%)

05/03/17
JPMS
05/03/17
DOWNGRADE
Target $56
JPMS
Neutral
QTS Realty Trust downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Richard Choe downgraded QTS Realty Trust to Neutral saying high churn, low signings and back-end loaded book-not-billed revenue will limit near-term growth. The analyst lowered his price target for the shares to $56 from $58 following the "soft" Q1 results.
04/24/17
STFL
04/24/17
NO CHANGE
STFL
QTS Realty Trust named top data center/hosting pick at Stifel
Stifel analyst MAtthew Heinz identifies QTS Realty as his top data center/hosting pick ahead of Q1 results. The analyst says that the sector's supply/demand dynamic remains favorable, while the company should benefit from its"ability to generate high transaction velocity across a wide range of deal sizes." However, he adds that there have been fewer large hyperscale deals in the sector in recent months than in 2016.
04/25/17
MUFG
04/25/17
INITIATION
Target $58
MUFG
Overweight
QTS Realty Trust initiated with an Overweight at MUFG
MUFG analyst Stephen Bersey started QTS Realty Trust with an Overweight rating and $58 price target.
06/30/17
FBCO
06/30/17
INITIATION
Target $54
FBCO
Neutral
QTS Realty Trust initiated with a Neutral at Credit Suisse
Credit Suisse analyst Sami Badri started coverage of the Data Center REITS, initiating QTS Realty Trust with a Neutral rating and $54 price target, as he believes there are more attractive peers on a relative basis.
CONE CyrusOne
$63.67

-1.28 (-1.97%)

06/30/17
FBCO
06/30/17
INITIATION
Target $73
FBCO
Outperform
CyrusOne initiated with an Outperform at Credit Suisse
Credit Suisse analyst Sami Badri started coverage of the Data Center REITS, initiating CyrusOne with an Outperform rating and $73 price target, calling it his highest conviction call in the sector. He believes the multi-tenant data center market is in its early innings and he sees strong execution from CyrusOne's growing enterprise oriented salesforce, he tells investors.
04/25/17
MUFG
04/25/17
INITIATION
Target $54
MUFG
Neutral
CyrusOne initiated with a Neutral at MUFG
MUFG analyst Stephen Bersey started CyrusOne with a Neutral rating and $54 price target.
06/12/17
LEHM
06/12/17
NO CHANGE
Target $64
LEHM
Overweight
CyrusOne price target raised to $64 from $58 at Barclays
Barclays analyst Amir Rozwadowski raised his price target for CyrusOne shares to $64 citing a continued positive view on tower fundamentals despite the year-to-date stock rallies. CyrusOne remains the analyst's preferred sector pick. He keeps an Overweight rating on the shares.
04/06/17
MACQ
04/06/17
INITIATION
Target $58
MACQ
Outperform
CyrusOne initiated with an Outperform at Macquarie
Macquarie initiated CyrusOne with an Outperform and a $58 price target.
DFT DuPont Fabros
$65.89

-1.99 (-2.93%)

06/22/17
KEYB
06/22/17
DOWNGRADE
KEYB
Sector Weight
DuPont Fabros downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc downgraded DuPont Fabros based on valuation.
06/22/17
06/22/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CarMax (KMX) downgraded to Neutral from Positive at Susquehanna with analyst Ali Faghri saying "more challenging comparisons and moderating tailwinds" from online initiatives "will lead to a gradual slowdown in sales trends." 2. DuPont Fabros (DFT) was downgraded to Sector Weight from Overweight at KeyBanc and to Market Perform from Outperform at Raymond James. 3. TSMC (TSM) downgraded to Hold from Buy at HSBC with analyst Steven Pelayo citing valuation. 4. Sandstorm Gold (SAND) downgraded to Neutral from Outperformer at CIBC. 5. Dana Holding (DAN) downgraded to Hold from Buy at Deutsche Bank with analyst Rod Lache saying the stock has risen to within 5% of the firm's target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/22/17
RAJA
06/22/17
DOWNGRADE
RAJA
Market Perform
DuPont Fabros downgraded to Market Perform from Outperform at Raymond James
06/13/17
MACQ
06/13/17
DOWNGRADE
MACQ
Neutral
DuPont Fabros downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Andrew DeGasperi downgraded DuPont Fabros (DFT) to Neutral following the acquisition by Digital Realty Trust (DLR)

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AMZN

Amazon.com

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UN

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$58.67

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$117.51

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DGX

Quest Diagnostics

$95.22

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Vermillion

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SPY

SPDR S&P 500 ETF Trust

$248.97

-0.47 (-0.19%)

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S&P 500

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CCL

Carnival

$64.24

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CCC

Calgon Carbon

$21.38

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Pfizer

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S&P 500

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PSMT

PriceSmart

$87.60

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EBS

Emergent BioSolutions

$38.52

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AIR

AAR Corp.

$37.17

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UBNT

Ubiquiti

$54.18

1.52 (2.89%)

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WFC

Wells Fargo

$54.21

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GPC

Genuine Parts

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SSRM

SSR Mining

$10.26

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NLSN

Nielsen

$41.13

0.24 (0.59%)

, SCOR

comScore

$29.10

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