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Bear Stearns Upgrades LSI Logic to 'Buy'


Bear Stearns upgraded LSI Logic (LSI) to buy from attractive.

Analyst Charles Boucher says LSI thinks Q3 will be the bottom, as order cancellations subside and bookings increase. He thinks the company's end markets are near a fundamental bottom as

inventories are being depleted, and customer consumption rates run much higher than order rates. He believes LSI is well positioned to benefit from an upcoming cyclical industry upturn. Boucher widened his $0.14 2001 loss estimate to a $0.53 loss, and lowered the $0.28 2002 EPS estimate to $0.04 EPS to reflect a deeper-than-expected Q3 bottom. Boucher has a $35 target.


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