Barclays Cuts Estimates and Price Target on LSI Corporation (LSI); Lower HDD Outlook

Barclays maintains an 'Overweight' on LSI Corporation (NYSE: LSI) price target lowered from $12 to $10.

Analyst, Blayne Curtis, said, "We are cutting our estimates to reflect the more tempered outlook for the HDD market...We maintain our rating on LSI despite these cuts, as we believe this lower HDD outlook reduces some of the near-term risks associated with the normalization of the HDD supply chain and we still believe there are several underappreciated secular drivers ahead."

FY12 EPS estimate lowered from $0.79 to $0.77 and FY13 from $0.85 to $0.76.

For an analyst ratings summary and ratings history on LSI Corporation click here. For more ratings news on LSI Corporation click here.

Shares of LSI Corporation closed at $6.90 yesterday.

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