LSI Industries initiated with a Buy at Craig-Hallum

Craig-Hallum analyst Aaron Spychalla initiated coverage of LSI Industries with a Buy rating and $18 price target. The analyst notes LSI Industries is seeing the benefits of shifting from a broad-commodity supplier to focus on key vertical markets with a differentiated lighting and display solutions offering, dramatically improved operations and engagement with a blue-chip customer list, and tailwinds from greater LED lighting adoption and focus on customer experience. Spychalla thinks the combination of company-specific and secular growth drivers presents a compelling investment opportunity.