Sterne Agee Revises OCZ Technology Group's Estimates

Sterne Agee has published a report on OCZ Technology

expressing positive things to come from the Vertex 4 launch with a solid initial sell- through into the channel. According to Sterne Agee, “Due to the earlier than expected launch of Vertex 4 and the related tone from management regarding the initial adoption with the channel, we are tweaking our FY2013 revenue estimates slightly higher to $548 million from $543 million (Street-high estimate ahead of this call), but lowering non-GAAP EPS to reflect the higher share count from the recent raise, from $0.68 to $0.54.” Sterne Agee maintains its Buy rating and $13 price target on OCZ Technology, which closed Friday at $7.44.