Needham & Company Reiterates a 'Buy' on OCZ Technology Group (OCZ); Updating Model For Recent Offering

Needham & Company reiterates a 'Buy' on OCZ Technology Group (NASDAQ: OCZ) price target of $14.00.

Analyst, Richard Kugele, said, "What began as another DRAM company making a play into SSDs has evolved into one of the preeminent SSD suppliers with products spanning consumer through enterprise, notebook through datacenter, and SATA through PCIe. Recently, OCZ’s PCIe offerings have begun to gain traction in the market with multiple beta test qualifications completed that we believe have the potential to significantly alter Street models."

(Needham lowers FY12 EPS estimate from $0.16 to $0.15 and FY13 from by $0.67 to $0.57)

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 $8.88 yesterday.

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