UPDATE: FBN Raises PT on OCZ Technology to $11

FBN is out with its report today on OCZ Technology OCZ, raising its PT from $10 to $11. In a note to clients, FBN writes, "OCZ increased its expectation for F2012 revenue from $300-330M to $310-345M. It also increased its long-term GM target from 28-32% to 30-40%. It expects long-term NG opex% to be 18-20% and long-term NG operating margin to be 15-20%. We reiterate our Outperform rating on OCZ and raise our PT from $10 to $11." At the time of posting, shares of OCZ were trading pre-market at $9.24, up 10.79% from Wednesday's close.