UPDATE: Sterne Agee Reduces PT to $11 on OCZ Technology Group

Sterne Agee reiterated its Overweight rating on OCZ Technology Group OCZ but reduced its price target from $13 to $11. Sterne Agee commented, "Offsetting events during 1Q13 will likely cause stock to remain range-bound in the immediate term but we continue to believe OCZ can deliver on cash flow management in F2H13, which should drive the stock into the double digits as we move closer to 3Q13. Lowering PT to reflect the increased speculative nature of the story." OCZ Technology Group closed at $5.45 on Tuesday.