Fusion-io (FIO) Has High Chance of Being Acquired; Craig-Hallum Upgraded to Buy

September 9, 2013 2:15 PM EDT
Get Alerts FIO Hot Sheet
Price: $11.24 --0%

Rating Summary:
    7 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Craig-Hallum upgraded Fusion-io (NYSE: FIO) from Hold to Buy with a price target of $18.00 (from $12.00). Analyst Rajesh Ghai believes there is a 50/50 chance the company will be acquired in the near term. He believes valuation will compel Fusion-io's board to consider offers, with Seagate Technology (Nasdaq: STX) viewed as the most likely to entertain an offer.

Ghai thinks news today that Western Digital Corp. (Nasdaq: WDC) acquired Virident Systems puts pressure on Seagate.

Other potential suitors include Samsung and Micron (Nasdaq: MU).

For an analyst ratings summary and ratings history on Fusion-io click here. For more ratings news on Fusion-io click here.

Shares of Fusion-io closed at $10.83 yesterday.

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