Merriman Curhan Ford Initiates Coverage on OCZ Technology Group Inc.
SAN FRANCISCO, May 14 /PRNewswire-FirstCall/ -- Merriman Curhan Ford (Nasdaq: MERR) initiated equity research coverage today on OCZ Technology Group Inc. (OCZ) ($4.02), an emerging Solid State Drive (SSD) vendor.
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Equity research analyst Alex Kurtz initiates coverage of OCZ with a Buy Rating:
- OCZ is an emerging Solid State Drive (SSD) vendor that has built strong brand equity within the SMB/Mid Market channel through the distribution of its higher performance DRAM modules and Power Supply (PSU) products.
- OCZ has a diversified GTM model with no 10% end customers and leading price/performance SAS, SATA and PCI-e MLC/SLC based SSDs that are expected to reach 41% of revenue in FY11.
- We believe fair value is at a discount to market leader STEC based on current year EV/revenue multiples, yielding a $7.20-8.70 valuation range.
Members of the media can obtain a copy of this Merriman Curhan Ford research report by e-mailing the Equity Research Department at [email protected].
About Merriman Curhan Ford
Merriman Curhan Ford (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services, and specializes in five growth industry sectors: CleanTech, Consumer/Internet/Media, Health Care, Natural Resources and Technology. For more information, please go to www.mcfco.com.
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Specific Disclosures | |
- MCF & Co. has received compensation for investment banking services within the last 12 months, or expects to receive or intend to seek compensation for investment banking services in the next three months, from OCZ Technology Group Inc. | |
- Within the last 12 months MCF & Co. has managed or co-managed a public offering for OCZ Technology Group Inc. | |
- MCF & Co. makes a market in OCZ and as such buys and sells from customers on a principal basis. | |
- Neither Alex Kurtz nor a member of his household owns shares of OCZ. | |
- MCF & Co. owns options, rights, or warrants to purchase OCZ. | |
- No MCF & Co. employee serves on the board of directors of OCZ Technology Group Inc. | |
- Neither Alex Kurtz nor a member of his household serves on the board of directors of OCZ Technology Group Inc. | |
- MCF & Co. beneficially owns 1% or more of a common equity security of OCZ Technology Group Inc. | |
- Merriman Curhan Ford's full research universe and related disclosures can be downloaded from http://www.mcfco.com and http://mcfco.com/footer/docs/Disclosures.pdf. Applicable current disclosures for this report can be obtained by contacting [email protected] or via postal mail at Editorial Department, Merriman Curhan Ford, 600 California St., 9th Floor, San Francisco, CA 94108. | |
Key to Investment Rankings (expected total share price return inclusive of dividend reinvestment, if applicable) | |||||
Rating | Percent of Universe | No. of Stocks | Description | Percent of companies under research coverage from which MCF & Co. received compensation for investment banking services provided in the previous 12 months or expects to receive or intends to seek in the next three months | |
Buy | 55% | 47 | MCF & Co. expects the stock price to appreciate 10% or more over the next 12 months. Initiate or increase position. | 6% | |
Neutral | 43% | 36 | MCF & Co believes the stock price is fairly valued at current levels. Maintain position or take no action. | 4% | |
Sell | 2% | 3 | MCF & Co. expects the stock price to depreciate over the next 12 months. Sell or decrease position. | 1% | |
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