UPDATE: Morgan Stanley Downgrades LSI on News of Proposed Acquisition by Avago

In a report published Wednesday, Morgan Stanley analyst Joseph Moore downgraded the rating on LSI (NASDAQ: LSI ) from Overweight to Equal-Weight, but raised the price target from $10.00 to $11.15. In the report, Morgan Stanley noted, “Avago has announced a proposed acquisition of LSI for $11.15/share, representing a 40%