FBR Capital Maintains an 'Outperform' on LSI Corporation (LSI); Star Rising As New Model Takes Form

FBR Capital maintains an 'Outperform' on LSI Corporation (NYSE: LSI), PT increased from $7 to $8.

FBR analyst says, "While shares appear to be catalyst-lite in the near term, we think risk/reward is attractive ahead of a likely 2H11 acceleration in revenues as new design wins ramp. Further, we think LSI can ramp some share at Seagate in the near term, and that Seagate could take some market share near term. Finally, we think LSI's management has done a commendable job of integrating its Agere acquisition, aligning its overall strategies (storage and networking focused), and releasing higher value–added products that are growing its design win pipeline. We look for the firm’s better product portfolio to drive robust revenue growth and earnings power in 2H11 and 2012."

For more ratings news on LSI Corporation click here and for the rating history of LSI Corporation click here.

Shares of LSI Corporation closed at $6.90 yesterday.

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