OCZ Tech. (OCZ) Shares Rise as Piper Jaffray Reiterates Overweight Amid Strong SSD Demand, Microsoft Deals

Shares of OCZ Technology (NYSE: OCZ) are up nearly 4 percent Tuesday morning as Piper Jaffray's Andrew Nowinski reiterated an Overweight rating and $17 price target on the stock earlier.

Citing recent industry checks, Nowinski said OCZ is seeing increased demand for SSD's and is also getting involved with numerous deals Microsoft (Nasdaq: MSFT). OCZ will supply Microsoft's Azure cloud storage platform. Sales growth will likely accelerate as falling NAND pricing suggests OCZ is seeing better demand for higher capacity SSDs.

With OCZ shares last trading at $6.06, Nowinski's price target implies potential upside of about 181 percent.

Track all the market-moving analyst action on shares of OCZ with our Analyst Ratings page.

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