LSI Corporation (LSI) Upgraded To Buy; Price Target Raised

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.