Mizuho started coverage on shares of Fusion-Io (NYSE: FIO) in a research report sent to investors on Thursday morning. The firm issued a buy rating and a $22.00 price target on the stock.
“…FIO is a very attractive acquisition target for larger technology providers. Price could be around $40 if it gets acquired at historical storage acquisition multiples.,” Mizuho’s analyst commented.
A number of other firms have also recently commented on FIO. Analysts at Janney Montgomery Scott initiated coverage on shares of Fusion-Io in a research note to investors on Thursday, February 7th. They set a neutral rating and a $18.00 price target on the stock. Separately, analysts at UBS AG initiated coverage on shares of Fusion-Io in a research note to investors on Monday, February 4th. They set a neutral rating and a $18.50 price target on the stock. Finally, analysts at Barclays Capital cut their price target on shares of Fusion-Io from $28.00 to $18.00 in a research note to investors on Thursday, January 31st. They now have an equal weight rating on the stock.
Ten analysts have rated the stock with a buy rating, twelve have issued a hold rating, and one has assigned an underweight rating to the company’s stock. Fusion-Io currently has an average rating of overweight and a consensus price target of $22.31.
Fusion-Io traded down 2.83% on Thursday, hitting $16.51. Fusion-Io has a 1-year low of $15.10 and a 1-year high of $33.87. The stock’s 50-day moving average is currently $18.40. The company’s market cap is $1.595 billion.
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