Auriga Starts Fusion-io (FIO) at Sell; Potentially Great Company, Not So Great Stock

Auriga initiates coverage on Fusion-io (NYSE: FIO) with a Sell. PT $16.00.

Auriga analyst says, "We view Fusion-io, the company, as a very exciting growth story, with a clear lead in the emerging PCIe SSD space, which we estimate will grow at a 97% CAGR through 2015, to a $3Bn TAM at that time. While upside potential to our near-term assumptions for both the industry and Fusion-io exist, substantial risks also exist, including increasing competition and high customer concentration. Our 12-month price target on FIO is $16, below the current share price, which leads us to a SELL."

For more ratings news on Fusion-io click here and for the rating history of Fusion-io click here.

Shares of Fusion-io closed at $22.70 yesterday.

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