UPDATE: Goldman Sachs Lowers STEC's PT

According to a research report published earlier today, Goldman Sachs has lowered STEC Inc.'s

PT from $10.50 to $10. In the report, Goldman Sachs commented, “While we expect STEC's new products to offer lower cost and improved performance given its internally developed IP that allows it to effectively use two-bit per cell NAND, both PCIE-focused peers and large competitors such as Intel and Samsung will also be introducing new products that could mitigate its success. In the interim, STEC's potential as an M&A candidate should limit downside in the stock. We lower our 2012 EPS estimate to $0.10 from $0.25 on lower gross margin, maintain 2013 at $0.60, and introduce 2014 EPS of $0.85.” Goldman Sachs maintains its Neutral rating on STEC, which is currently trading at $10.15.