UPDATE: Stifel Nicolaus Downgrades Fusion-io to Hold
Stifel Nicolaus is out with its report today on Fusion-io (NYSE: FIO), lowering its PT from Buy to Hold.
In its report, Stifel Nicolaus writes, "We are downgrading shares of Fusion-io from Buy to Hold following the strong run-up since the end of the September quarter (9/30) - shares up +77% vs. S&P 500 +10%. This is not a call on the current quarter, but rather reflective of our decision to take a breather on the risk/reward at these levels given our view on required upside revenue/GM% momentum – we continue to view Fusion-io as solidly positioned to capitalize on the growth opportunities in PCIe SSDs."
At the time of posting, shares of FIO were trading at $34.90, up 3.50% from Wednesday's close.
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