UPDATE: Wunderlich Securities Lowers Price Target on Silicon Graphics to $15

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According to Wunderlich Securities, Silicon Graphics International (NYSE: SGI) price target is lowered to $15.Wunderlich Securities said that Silicon Graphics (SGI) reported fiscal 2Q EPS of $0.04 on revenue of $195 million vs. consensus estimates for EPS of $0.25 on revenue of $197 million. “We believe SGI remains significantly undervalued relative to its technology and customer assets and should take decisive steps to regain shareholder confidence. We maintain our Buy rating on shares of SGI.”Silicon Graphics International closed yesterday at $14.37.

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