UPDATE: Mizuho Securities Starts Fusion-io (FIO) at Buy, Worth $40 in Takeout

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(Updated - February 28, 2013 10:12 AM EST)

Mizuho Securities initiated coverage on Fusion-io (NYSE: FIO) with a Buy and a price target of $22.00.

Analyst Abhey Lamba thinks the company could see upside to the mid-$20s if it executes, but may be worth $40 per share in a takeout, based on historic acquisition multiples.

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 $16.12 yesterday, with a 52 week range of $15.10-$33.87.

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