Not Everyone Convinced Fusion-io (FIO) Uncertainly Will Come to Swift End
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Price: $11.24 --0%
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
6 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Goldman Sachs today maintained a Neutral rating on Fusion-io (NYSE: FIO) with a modified price target of $18.00 (from $21.00). Comments follow an information session hosted by Fusion-io management. During the event, the company's CFO and COO placed emphasis on innovation, integration of acquisitions, and international expansion. In Goldman's view, the presentation did little to suggest an end to uncertainty.
"Although the above factors suggest a positive direction for Fusion-io, and the new CEO's rich experience in the tech industry should be a key asset, we came away more concerned that the uncertainty will not abate just yet, and that some of the near-term challenges may even become more severe," said analyst Bill Shope.
"In particular, with a new product cycle ramping in 2HCY2013 and the natural short-term hiccups that can occur from a new management team, we believe that the widely held hope for a 2HCY2013 recovery in revenues now has greater risks than we previously appreciated," he added.
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 $14.51 yesterday.
"Although the above factors suggest a positive direction for Fusion-io, and the new CEO's rich experience in the tech industry should be a key asset, we came away more concerned that the uncertainty will not abate just yet, and that some of the near-term challenges may even become more severe," said analyst Bill Shope.
"In particular, with a new product cycle ramping in 2HCY2013 and the natural short-term hiccups that can occur from a new management team, we believe that the widely held hope for a 2HCY2013 recovery in revenues now has greater risks than we previously appreciated," he added.
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 $14.51 yesterday.
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