Ahead of the Bell: STEC meeting

STEC recently posted adjusted earnings and sales above the average expectation of analysts polled by Thomson Financial.

At the time, Chief Financial Officer Dan Moses said strong sales of the company's ZeusIOPS line of solid state drive products drove results. STEC also forecast second-quarter results above expectations.

Oppenheimer & Co. analyst Daniel Morris, who recently met with management, said enterprise solid state drive products are what will drive long-term growth. Average selling prices range from $7,000 to $8,000, Morris said.

"We remain bullish on STEC's unfolding solid state drive (SSD) story and see further room for shares to run," Morris wrote in a client note.

Shares of STEC have already risen 43 percent so far this year.

Morris rates the stock "Outperform."

Five analysts rate the stock "Buy," or the equivalent, while three rate the stock "Neutral."