UPDATE: Benchmark Color on STEC Upgrade, Target Increase

Benchmark, which raised its PT and upgraded shares of STEC, Inc. (NASDAQ: STEC), is providing some color on the stock.

“Surely, our rating increase might elicit some controversy,” Benchmark writes. “The bears will argue that STEC will continue to lose market share in the high-end portion of the enterprise-class SSD (solid-state drive) market. We, on behalf of the bulls, believe that STEC should benefit from the rapidly growing enterprise-class SSD market.”

STEC closed Friday at $14.80.