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January 14, 2013 6:37 AM EST Tweet
Get AlertsFIO Hot Sheet
Rating Summary:
11 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today’s Overall Ratings:
While the broader market is weaker Monday, Fusion-io (NYSE: FIO) is sharply higher on the back of an upgrade at JPMorgan.
JPMorgan analyst Mark Moskowitz raised his rating on the data storage company from Neutral to Overweight and raised his price target from $28.50 to $30.00 as competition has not shown up in a big way yet.
“While deeper pocketed IT vendors are targeting the server-side, data acceleration market, our research points to Fusion-io continuing to hold the pole position,” Moskowitz states. “Also, our research indicates that Fusion-io could expand its go-to-market strategy with more of a direct sales push. In our view, this approach could lower the price points for the end customer, potentially unlocking greater adoption of Fusion-io’s solutions.”
Moskowitz believes Fusion-io’s revenue profile could exhibit accelerating growth in 2013, providing upside to consensus estimates.
Also, the current risk/reward “sets the stage for above-peer stock appreciation potential,” he said.
For an analyst ratings summary and ratings history on Fusion-io click here. For more ratings news on Fusion-io click here.
Shares of Fusion-io are up 5.2 percent to $20.96 mid-day Monday.
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