Fusion-io Raised To Buy From Hold By Benchmark

According to Benchmark, “First, Fusion-io’s shares gapped down following 2Q12 results due primarily to gross margin concerns. Second, EMC’s official launch of VFCache (formerly known as Project Lightning) on Monday, February 6 took a bite out of Fusion-io’s share price, as investors became more concerned about competition in server attached flash storage. In our opinion, both of these factors are minor, and thus, have created an excellent entry point for investors. Therefore, we are increasing our rating from “Hold” to “Buy”.”

Benchmark maintains its $30 PT on Fusion-io, which closed yesterday at $24.10.

Read more: http://www.benzinga.com/analyst-ratings/analyst-color/12/02/2346373/update-benchmark-upgrades-fusion-io-to-buy#ixzz1mSxN4MmW

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: