Marvell (MRVL) PT Raised to $29 at Cowen Following Cavium Deal; 'Organic Growth Plus Highly Synergistic Deal'
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Price: $245.29 -9.84%
Rating Summary:
50 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Rating Summary:
50 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
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Cowen raised its price target on Marvell (NASDAQ: MRVL) to $29.00 (from $21.00) while maintaining a Outperform rating, following the company's recent announcement to acquire Cavium for $6 billion.
Analyst Karl Ackerman notes a positive outlook on the shares, following management's recent announcement to acquire Cavium for $6 billion, suggesting this transaction represents the next phase of the story to execution of $2 per share in EPS in 2019 with Cavium in place.
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