Sterne Agee Revises OCZ Technology Group's Estimates

Sterne Agee has published a report on OCZ Technology (NASDAQ: OCZ) expressing positive things to come from the Vertex 4 launch with a solid initial sell- through into the channel.

According to Sterne Agee, “Due to the earlier than expected launch of Vertex 4 and the related tone from management regarding the initial adoption with the channel, we are tweaking our FY2013 revenue estimates slightly higher to $548 million from $543 million (Street-high estimate ahead of this call), but lowering non-GAAP EPS to reflect the higher share count from the recent raise, from $0.68 to $0.54.”

Sterne Agee maintains its Buy rating and $13 price target on OCZ Technology, which closed Friday at $7.44.

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