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Technology Stocks : LSI Corporation

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To: E_K_S who wrote (25108)	7/26/2002 11:58:10 PM
From: E_K_S	Read Replies (1) of 25814

RESEARCH ALERT-Merrill ups LSI Logic to mid-term 'neutral' July 25, 2002 12:00:00 PM ET NEW YORK, July 25 (Reuters) - Merill Lynch said it increased its mid-term investment rating Thursday on custom chipmaker LSI Logic Corp.(LSI) to ``neutral'' from ''reduce-sell.'' Analyst Joseph Osha, in a research note, said the company's second-quarter results were stronger than he had expected. He also said the stock has limited downside after declining 55 percent in the past quarter ``Management's outlook for the September quarter was surprisingly strong, calling for 10 percent sequential revenue growth,'' Osha wrote. ``Consumer and storage are the drivers.'' He narrowed his 2002 proforma estimate to a loss of 19 cents a share from a loss of 25 centsa share, with the net loss narrowing to 82 cents a share from $1.03 a share. For 2003, he boosted his per-share forecast of proforma earnings to 30 cents from 27 cents and net income to 17 cents from 14 cents. In early trade, LSI was up 41 cents to $7.16 a share. REUTERS

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