Sterne Agee Reiterates Buy, $13 PT on OCZ Technology Group
Sterne Agee maintains its Buy rating and price target of $13 on OCZ Technology Group (NASDAQ: OCZ) as SANRAD platform is expected to provide entrée into vSphere environments, expanding longer-term TAM for OCZ/PCIe.
Sterne Agee notes, "vSphere is creating new challenges for PCIe-based storage in the host. After spending time with the SANRAD team, we now have a greater appreciation of its approach to the IO blender issue (random IOPS in a VM environment). Specifically, the SANRAD/VXL architecture works at the host level to provide application acceleration in lieu of a software agent in the OS approach that ioTurbine is pursuing with Fusion-io. SANRAD's approach creates a pool of virtualized cache which enables seamless vMotion support that in turn provides scalable cache coherency across physical clusters."
OCZ closed at 7.72 per share on Tuesday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.