Cowen Remains Bullish on Marvell Technology (MRVL) Ahead of 2Q
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Cowen maintained an Outperform rating and $15.00 price target on Marvell Technology (NASDAQ: MRVL) Ahead of the company's 2Q earnings report. Cowen is not expecting any surprises.
Analyst Timothy Arcuri commented, "Numbers-wise, expect no surprises on results while guide should be solid (particularly EPS) and drive Street estimates higher again. Full communication of the "grand plan" might still take time, but even pedestrian assumptions yield ~$1.20-$1.30 EPS power and some smart slicing/dicing of current business and maybe smart M&A with its cash mountain could add a lot more growth."
Shares of Marvell closed at $12.30 yesterday.
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