Pacific Crest Reiterates Outperform on Fusion-io (FIO)

Pacific Crest reiterated an Outperform rating on Fusion-io (NYSE: FIO) with a price target of $14.00. Analyst Brent Bracelin thinks investors should buy the stock given opportunity for a turnaround in 2014, which isn't well understood.

The report notes that channel partners are seeing increased interest in Fusion-io's new appliances and storage software. In addition, the company may benefit from a third-gen platform and a shrinking competitive field.

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 $11.64 yesterday.

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