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

following transition of channel to Indilinx. 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." OCZ Technology closed at $6.17 on Thursday.