Jefferies Raises Price Target on Marvell (MRVL) Following Q4 Results

Jefferies raised its price target on Buy-rated Marvell (NASDAQ: MRVL) from $18 to $19 following Q4 results.

The firm comments, "MRVL's JanQ report and AprQ outlook were materially in line with consensus. We think MRVL has three things working for it: 1) It's Cheap, 2) HDDs are recovering, and 3) It has a number of product cycles which could surprise to the upside, including SSDs and TD-cellphone chips shipping now, and Google TV chips in 2H12. Reiterate Buy."

The firm trims Q1 EPS from $0.25 to $0.20, FY from $1.40 to $1.22.

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 $16.06 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
• HSBC Upgrades Topdanmark (TOP:DC) (TPDKY) to Hold
• Hertz Global (HTZ) PT Lowered to $6 at Deutsche Bank