Wunderlich Securities Maintains Buy, $3 Target on Quantum
Wunderlich Securities reiterates its Buy rating and $3 target price on Quantum (NYSE: QTM) as the company becomes a key component in Xerox's cloud strategy.
Wunderlich Securities notes, "Yesterday, Quantum (QTM) filed an 8-K disclosing that newly introduced cloud backup and disaster recovery services offered by Xerox Corp. (XRX-NR) will leverage de-duplication (DXi) and virtual server protection (vmPRO) software from Quantum. We see this relationship as offering a significant greenfield opportunity for Quantum to deliver disk and software solutions to the SMB market through the leverage afforded it under the Xerox banner. In addition, we believe this win validates Quantum's technology and end-to-end backup strategy."
QTM closed at $2.52 a share on Tuesday.
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