Dougherty & Co Starts Fusion-io (FIO) at Neutral, Cites Valuation

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February 28, 2012 9:27 AM EST
Get Alerts FIO Hot Sheet
Price: $11.24 --0%

Rating Summary:
    6 Buy, 17 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Dougherty & Co initiates coverage on Fusion-io (NYSE: FIO) with a Neutral rating and $20 price target. The firm said the unique SSD technology is driving growth, but valuation is extended.

The firm comments, "Fusion-IO is a premier supplier of SSD solutions to enterprise clients, and is currently in a 'hyper-growth' mode as it struggles to keep up with the exploding market. However, given the company's customer concentration issues (Apple/Facebook) and the stock’s valuation relative to our $20 12-month price target, we are initiating coverage of FIO with a Neutral recommendation."

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 $27.81 yesterday.

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