UPDATE: Sterne Agee Reiterates Buy, $13 PT ON OCZ Technology Group Amid Indilinx Transition
Sterne Agee reiterated its Buy rating and $13 price target on OCZ Technology (NASDAQ: OCZ) following the company's channel transition of Indilinx in a research report published Friday.
In the report, Sterne Agee commented, "No change to our thesis but taking a more conservative stance on Agility 3/Vertex 3 pricing discounts as channel transitions to Indilinx (higher GM). We remain confident on deal flow among larger data centers in 2H13 and believe the stock remains extensively oversold, even with recent pop from ~$4. OCZ is set to report 7/10 and we expect in-line revenue and reiteration of FY13 guidance."
Shares of OCZ Technology were trading at $6.05 at the time of posting, down 2.11% from Thursday's market close.
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