UPDATE: Wedbush Securities Downgrades LSI (NYSE: LSI) to Neutral on HDD, Networking Outlook
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
|Oct 2016||BMO Capital||Upgrades||Market Perform||Outperform|
|Dec 2013||Morgan Stanley||Downgrades||Overweight||Equal-weight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.