Cowen Sees Marvell (MRVL) Deal In China But Said Sale of Entire Company 'a Stretch'

Cowen analyst Timothy Arcuri weighed in on Marvell (NASDAQ: MRVL) following another takeout article.

Arcuri commented "The Financial Times is reporting this morning that MRVL will be acquired and the stock is up ~4% on the news. While we think there is underlying truth to a deal being in the works, the idea that the entire company would be acquired seems a stretch to us; regardless, we continue to believe 1) there will ultimately be a deal for an equity stake in the mobile chipset business; and 2) it would most likely come from a Shanghai-based SOE. Our $18 target is based on a probability-weighted scenario and we continue to feel very comfortable with this target."

The firm maintained an Outperform rating and price target of $18.00

For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.

Shares of Marvell closed at $12.51 yesterday.

You May Also Be Interested In

• Enphase Energy (ENPH) PT Raised to $145 at TD Cowen
• Cantor Fitzgerald Starts Materialise NV (MTLS) at Overweight, 'Well-Positioned to meet rising software demand'
• EU Antitrust Regulators Concerned About Impact of KKR, Telecom Italia Deal on Viability of Wholesale Market - Reuters