UPDATE: BMO Capital Upgrades Marvell (MRVL) to Outperform
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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."
Shares of Marvell closed at $41.51 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesBMO Capital, Earnings
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