Wunderlich Securities Reiterates Buy, $22 Target on Silicon Graphics International

Wunderlich Securities maintains its Buy rating with a $22 target price on Silicon Graphics International

as it previews earnings that the company reports after close today. Wunderlich Securities says, "Silicon Graphics (

) reports its fiscal 2Q12 earnings today after the close. Consensus estimates are for EPS of $0.25 on revenue of $197.6 million versus our estimates for EPS of $0.27 on revenue of $204.6 million. Given the combined factors of solid checks in the quarter, surprisingly good performance from the company's recently launched Ice X line, beatable consensus estimates, and a compelling valuation, we would be buyers of SGI shares into the print. We reiterate our Buy rating and $22.00 price target on SGI, and the shares remain on our Best Ideas list." SGI closed at $14.76 a share on Monday.