UPDATE: Sterne Agee Lowers Price Target on Silicon Graphics to $17

According to Sterne Agee, Silicon Graphics

price target is lowered to $17. Sterne Agee said that its view on SGI solving Big Data challenges for large customers remains unchanged, and it views the GM guidance setback as temporary in nature (and a new CEO hire as a potential catalyst). “We remain constructive on the revenue growth as SGI addresses key secular growth opportunities in the Data Center market.” Silicon Graphics closed yesterday at $14.37.