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UPDATE: Wedbush Securities Downgrades LSI (NYSE: LSI) to Neutral on HDD, Networking Outlook

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Wedbush Securities reduced its rating on LSI (NYSE: LSI) from Outperform to Neutral and lowered its price target from $7.50 to $7.

Wedbush Securities noted, "We downgrade LSI to a NEUTRAL rating from OUTPERFORM and reduce our PT to $7 from $7.50 as we believe with all three of LSI's segments facing challenges due to the uncertainty around the strength of PCs, adoption rate of client SSDs, and slowing in IT spending,that relative to our universe LSI will now perform in line."

LSI closed at $6.29 on Wednesday.

Latest Ratings for LSI

DateFirmActionFromTo
Dec 2013Morgan StanleyDowngradesOverweightEqual-weight
Dec 2013Craig-HallumDowngradesBuySell
Dec 2013Lazard Capital MarketsDowngradesBuyNeutral

View More Analyst Ratings for LSI
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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