UPDATE: BMO Capital Upgrades Marvell (MRVL) to Outperform

March 8, 2021 3:01 AM EST
Get Alerts MRVL Hot Sheet
Price: $47.50 -0.86%

Rating Summary:
    34 Buy, 13 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 19 | New: 67
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(Updated - March 8, 2021 4:47 AM EST)

BMO Capital analyst Ambrish Srivastava upgraded Marvell (NASDAQ: MRVL) from Market Perform to Outperform with a price target of $50.00 (from $45.00).

The analyst comments "We are raising our rating on shares of MRVL to an Outperform from a Market Perform. We are raising our TP to $50 from $45. A combination of a yield-driven sell off along with a bit of a harsh reaction post the recent earnings call offer an opportunity at current levels with an attractive risk/reward profile on shares, in our view. We see downside to $38, and in an upside scenario, shares can trade to $60 from current levels."

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 $41.51 yesterday.

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