Auriga Maintains a 'Hold' on OCZ Technology Group (OCZ); Updating Numbers Following Stock Offering
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Price: $0.05 --0%
Rating Summary:
5 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga maintains a 'Hold' on OCZ Technology Group (NASDAQ: OCZ) price target raised from $7 to $8.
Auriga analyst said, "OCZ announced the completion of a 12Mn share offering, which is highly dilutive (about 25%) to forward EPS estimates. We had been getting a sense that significant near term revenue/EPS upside was possible, and we are now formally including that in our model, but most of the EPS upside now disappears due to the offering. We believe the Enterprise SSD space will be a very high-growth technology segment over the next 3-5 years, but we believe that large new entrants are likely to drive most of the adoption at storage and server OEMs. Despite recent initial success, we still see OCZ as a minor Tier 2 vendor (with sub 5% market share), with ultimate margins well below the company's current targets."
For an analyst ratings summary and ratings history on OCZ Technology Group click here. For more ratings news on OCZ Technology Group click here.
Shares of OCZ Technology Group closed at $9.19 yesterday.
Auriga analyst said, "OCZ announced the completion of a 12Mn share offering, which is highly dilutive (about 25%) to forward EPS estimates. We had been getting a sense that significant near term revenue/EPS upside was possible, and we are now formally including that in our model, but most of the EPS upside now disappears due to the offering. We believe the Enterprise SSD space will be a very high-growth technology segment over the next 3-5 years, but we believe that large new entrants are likely to drive most of the adoption at storage and server OEMs. Despite recent initial success, we still see OCZ as a minor Tier 2 vendor (with sub 5% market share), with ultimate margins well below the company's current targets."
For an analyst ratings summary and ratings history on OCZ Technology Group click here. For more ratings news on OCZ Technology Group click here.
Shares of OCZ Technology Group closed at $9.19 yesterday.
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