UPDATE: Credit Suisse Initiates Outperform, $8 PT on OCZ Technology Group; Riding the SSD Wave
Credit Suisse initiates its coverage on OCZ Technology Group (NASDAQ: OCZ) with a rating of Outperform and a price target of $8 per share.
Credit Suisse notes, "OCZ is well positioned to benefit from the rapid growth of SSD adoption while simultaneously transforming the quality of its revenue base through growth in enterprise markets. This should drive a twoyear revenue CAGR of 70% (CY '11-'13E) and OM expansion to 10% in the long term. Nevertheless, the company's operating margins and cash burn should be monitored closely, given the volatility in these factors."
OCZ closed at $5.10 on Wednesday.
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