UPDATE: Piper Jaffray Upgrades Fusion-IO on Share Undervalue

In a report published Tuesday, Piper Jaffray analyst Andrew J. Nowinski upgraded the rating on Fusion-IO (NYSE: FIO ) from Neutral to Overweight, and raised the price target from $12.00 to $17.00. In the report, Piper Jaffray noted, “We are upgrading shares of FIO to Overweight and raising our price