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UPDATE: Morgan Stanley Upgrades LSI Corporation on Position to Benefit from Industry Trends

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In a report published Wednesday, Morgan Stanley analyst Joseph Moore upgraded the rating on LSI Corporation (NASDAQ: LSI) from Equal-Weight to Overweight, and named a $10.00 price target.

In the report, Morgan Stanley noted, “LSI is well positioned to benefit from industry trends with its refreshed product portfolio (SSD, PCIe WarpDrive, 12 Gb/s SAS, Axxia). HDDs gain share in Desktop (likely WDC) with Enterprise HDD share-loss reversing as OEMs seek SoC supplier equilibrium. We are broadly inline with consensus for 2014/2015, forecasting $0.73/$0.85 of EPS on a non-GAAP basis. With the stock trading on 11x 2015 earnings (based on MW EPS, incl. stock comp), we see some room for upside from here, more so if we see gains within WDC or client SSD.”

LSI Corporation closed on Tuesday at $8.02.

Posted-In: Joseph Moore Morgan StanleyAnalyst Color Upgrades Analyst Ratings


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