LSI "buy," target price raised

09/17/09 - Lazard Capital Markets

NEW YORK, September 17 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on LSI Corp (LSI). The target price has been raised from $5.80 to $6.50.

In a research note published this morning, the analysts mention that the company’s Seagate shipments are expected to continue increasing in the third quarter. LSI is poised to benefit in 2H from the US government’s end of the year budget flush, the analysts add. Continued improvement in the server and storage markets is expected to drive the company’s growth prospects in the near future, Lazard Capital says.