Roth Capital Initiates Research Coverage On Fusion IO Inc. With A Buy Rating

Roth Capital initiated coverage on Fusion IO Inc. (FIO) with a Buy rating and $12.5 price target in a report issued Friday, June 13.

Roth’s analyst Michael Staiger stated, “We foresee improvements for FIO shares as it adjusts to a more efficient go-to-market strategy backed by the launch of its next generation Atomic products. We believe FIO will leverage this technology in its hybrid flash and all-flash appliance product offerings, and become a complete solutions provider with an improving growth profile”.

Since its 2011 IPO, the biggest criticism of FIO was that PCIe cards were subject to rapid commoditization and margin erosion. However, Staiger believes that this perceived issue has not materialized. Many question whether FIO can extend its PCIe market leadership into the storage market and compete where it has no operating history, but the analyst believes FIO offers innovative products and can leverage its demonstrated PCIe market presence”.

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