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UPDATE: Lazard Capital Markets Upgrades Fusion-io to Buy; Story Intact Post Guidance Surprise

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Lazard Capital Markets upgraded Fusion-io (NYSE: FIO) from Neutral to Buy and announced a $23.00 price target.

Lazard Capital Markets noted, "We are upgrading shares of FIO to BUY from NEUTRAL as we see little change to the story after last night's negative surprise. Customer concentration and its associated lumpiness is a fundamental aspect of the business, but with the reset we believe numbers now adequately compensate for this. Checks continue to suggest that competition is at bay and that Fusion-io continues to command a meaningful technology lead over competitors."

Fusion-io closed at $20.09 on Wednesday.

Latest Ratings for FIO

DateFirmActionFromTo
Jul 2014Monness Crespi HardtTerminatesNeutral
Jun 2014Piper JaffrayDowngradesOverweightNeutral
Jun 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for FIO
View the Latest Analyst Ratings

Posted-In: Lazard Capital MarketsAnalyst Color Upgrades Analyst Ratings

 

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