Wedbush Downgrades LSI Corporation (LSI) to Neutral
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Price: $133.10 --0%
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 18
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 18
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Wedbush downgraded LSI Corporation (NYSE: LSI) from Outperform to Neutral with a price target of $7.00 (from $7.50).
The firm comments: "LSI Corporation (LSI) reported an in-line Q3 EPS on slightly lower revenue and guided Q4 well below expectations. While we were expecting weakness in HDD and Networking in Q4 from the challenging macro, the pause in Flash was a negative surprise. We downgrade LSI to a NEUTRAL rating from OUTPERFORM and reduce our PT to $7 from $7.50 as we believe with all three of LSI’s segments facing challenges due to the uncertainty around the strength of PCs, adoption rate of client SSDs, and slowing in IT spending, that relative to our universe LSI will now perform in line."
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 $6.29 yesterday.
The firm comments: "LSI Corporation (LSI) reported an in-line Q3 EPS on slightly lower revenue and guided Q4 well below expectations. While we were expecting weakness in HDD and Networking in Q4 from the challenging macro, the pause in Flash was a negative surprise. We downgrade LSI to a NEUTRAL rating from OUTPERFORM and reduce our PT to $7 from $7.50 as we believe with all three of LSI’s segments facing challenges due to the uncertainty around the strength of PCs, adoption rate of client SSDs, and slowing in IT spending, that relative to our universe LSI will now perform in line."
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 $6.29 yesterday.
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