UPDATE: FBN Initiates OCZ Technology at Outperform

FBN is out with its report today on OCZ Technology (NASDAQ: OCZ), initiating OCZ at Outperform.

In a note to clients, FBN writes, "We are initiating coverage of OCZ Technology with an Outperform rating and $10 PT. OCZ is a pure-play in the fast-growing (33% CAGR) solid-state disk (SSD) market, having exited the DRAM module market completely in the latest quarter (FQ4/Feb.). It is known for delivering SSDs with high-performance."

Shares of OCZ closed Monday at $7.59, down 0.39% from Friday's close.