LSI Corporation (LSI) Upgraded To Buy; Price Target Raised
By Benzinga Staff
March 18, 2010 9:39 AM
March 18, 2010 9:39 AM
Symbols: LSI
Tags: Suji De Silva, Kaufman Bros.
Analyst Suji De Silva at Kaufman Bros. has upgraded LSI Corporation (NYSE: LSI) from Hold to Buy rating. The price target for LSI Corporation stock has been raised from $5.50 to $8.
The company has revised its guidance for first-quarter. It has raised its first-quarter revenue estimate from $590-$620 million to $620-$640 million.
Kaufman believes the company is experiencing broad-based strength in orders across enterprise storage, hard drives and networking. It is also seeing improved visibility into second-quarter on the back of healthy order patterns.
Kaufman Bros. expects a series of strong quarters for LSI Corporation due to continuing strengthening of demand across PC, server and networking.
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