UPDATE: Wunderlich Securities Initiates Fusion-IO at Buy on Outlook

Wunderlich Securities initiated coverage on Fusion-IO FIO with a Buy rating and a $38 price target.Wunderlich Securities initiated its coverage on Fusion-IO FIO with a Buy rating and a $38 price target. Wunderlich Securities commented, "As an early mover in the PCIe flash market with a rich software portfolio, solid management team, and impressive customer base, we believe Fusion-io is well positioned to see continuing benefit as a stand-alone company, or to be acquired by a larger storage or systems vendor. As such, we view the company as a compelling choice for investors seeking exposure to the fast-growing flash memory market or otherwise." Fusion-IO closed at $30.09 on Monday.