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2017-05-18 07:34:53 MRVL Marvell $15.26 -0.99 (-6.09%) , TOSBF Toshiba, also use TOSYY $2.07 -0.036 (-1.71%) … 07:34 05/18/17 05/18 07:34 05/18/17 07:34	Marvell shares will outperform when company addresses trends, says UBS UBS analyst Stephen Chin laid out three reasons why he still likes Marvell (MRVL) shares. He cited its strong balance sheet and a decision on either a big buyback or an acquisition soon; expectations for storage sales to continue to grow; and his view that the concerns about the possibility of a competitor buying Toshiba's (TOSBF) memory assets are overblown. The analyst feels Marvell's valuation remains attractive and once the company addresses concerns about fundamental trends in storage, the stock should outperform. Chin maintained his Buy rating and $21 price target on Marvell shares. MRVL Marvell $15.26 -0.99 (-6.09%) TOSBF Toshiba, also use TOSYY $2.07 -0.036 (-1.71%) TOSYY Toshiba, also use TOSBF $12.20 -0.2 (-1.61%)	25 May 15 Jun
MRVL TOSBF TOSYY MRVL Marvell $15.26 -0.99 (-6.09%) 05/15/17 COWN 05/15/17 NO CHANGE Target $21 COWN Outperform Marvell remains a top semi idea, says Cowen Cowen analyst Timothy Arcuri said Marvell Technology still sells at a discount to peers and he sees big headroom for valuation. Arcuri, who said the HDD/SSD migration is actually better than it appears, reiterated his Outperform rating and $21 price target on Marvell shares. 04/06/17 04/06/17 UPGRADE On The Fly: Top five analyst upgrades Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Aflac (AFL) upgraded to Neutral from Underperform at BofA/Merrill with analyst Seth Weiss saying Aflac has underperformed the group over the past year while improving its rate of cash flow generation to over 80% of operating earnings in 2014-2016 from 25% of operating earnings in 2011-2013 and has $2.4B of excess capital capacity. 2. Jazz Pharmaceuticals (JAZZ) upgraded to Buy from Neutral at Janney Capital with analyst Ken Trbovich saying the company's settlement with Hikma over Xyrem eliminates a major overhang. While the deal allows Hikma to sell an authorized generic in 2023, about three years earlier than previous settlements with other generic filers, it eliminates the risk of an earlier launch and provides Jazz with a "meaningful royalty" on sales, Trbovich noted. 3. PacWest Bancorp (PACW) upgraded to Strong Buy from Outperform at Raymond James with analyst David Long citing the recent pullback in shares, the encouraging investor meeting last month, and increased investor interest in deposit franchises. 4. Abiomed (ABMD) upgraded to Overweight from Neutral at Piper Jaffray with analyst Matt O'Brien saying the company's premium valuation is warranted give its "strong revenue growth outlook, non-existent competition, and considerable earnings power." 5. Marvell (MRVL) assumed with a Buy from Neutral at MKM Partners. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. 04/05/17 MKMP 04/05/17 UPGRADE MKMP Buy Marvell assumed with a Buy from Neutral at MKM Partners 03/30/17 MACQ 03/30/17 INITIATION Target $16 MACQ Neutral Marvell initiated with a Neutral at Macquarie Macquarie analyst Srini Pajjuri initiated Marvell with a Neutral and a $16 price target. TOSBF Toshiba, also use TOSYY $2.07 -0.036 (-1.71%) 03/31/17 UBSW 03/31/17 NO CHANGE Target $245 UBSW Buy Broadcom deal for Toshiba NAND has wide range of accretion potential, says UBS UBS analyst Stephen Chin commented on the Nikkei report that Broadcom (AVGO) and Silver Lake Partners had submitted a bid to acquire Toshiba's (TOSBF) NAND business for $17.9B, saying he would not be surprised if Broadcom were in fact a bidder but he is not sure if a deal will happen. Depending on the structure of a deal, his pro forma scenarios range from 3% EPS accretion in FY18 to 9% in FY19 accretion, he tells investors. Chin keeps a Buy rating and $245 price target on Broadcom shares, which slid by 0.6% to close at $220.04 yesterday. 03/17/17 RBCM 03/17/17 NO CHANGE RBCM Western Digital likely to acquire Toshiba, says RBC Capital After multiple media reports stated that the Japanese government probably won;t rescue Toshiba (TOSBF, TOSYY), RBC Capital analyst Amit Daryanani says that the news "greatly increases" the odds of the company being acquired by U.S. entities. He thinks that Western Digital (WDX), in partnership with private equity firms, is the "high probability acquirer" of the company. By undertaking the deal, Western Digital would "further improve its NAND position and drive significant accretion with an upside bias to our $12.00+ EPS scenario," Daryanani wrote. He kept a $90 price target and an Outperform rating on the shares. 02/27/17 MAXM 02/27/17 NO CHANGE Target $11 MAXM Buy Vuzix smart glasses pact with Toshiba a pivotal event, says Maxim Maxim analyst Brian Kinstlinger noted that Toshiba's (TOSBF) pact with Vuzix (VUZI) for a custom pair of smart glasses based on the recent M300s comes just a year after Toshiba canceled the release of their Wearvue smart glasses and views the deal as validation that Vuzix is a "clear leader" in smart glasses technology. The analyst, who sees the development agreement as a pivotal event for Vuzix, suggests investors buy Vuzix shares ahead of the ramp in revenues he expects in 2017 and reiterates a Buy rating and $11 price target on the stock. 01/20/17 DBAB 01/20/17 DOWNGRADE DBAB Hold Toshiba downgraded to Hold from Buy at Deutsche Bank Deutsche Bank analyst Yu Yoshida downgraded Toshiba to Hold citing dilution risk following reports of mounting impairment losses. TOSYY Toshiba, also use TOSBF $12.20 -0.2 (-1.61%)

2017-05-18 07:34:53

MRVL

Marvell

$15.26: -0.99 (-6.09%)

, TOSBF

Toshiba, also use TOSYY

$2.07: -0.036 (-1.71%)

… 07:34

05/18/17

05/18

07:34

05/18/17

07:34

Marvell shares will outperform when company addresses trends, says UBS

UBS analyst Stephen Chin laid out three reasons why he still likes Marvell (MRVL) shares. He cited its strong balance sheet and a decision on either a big buyback or an acquisition soon; expectations for storage sales to continue to grow; and his view that the concerns about the possibility of a competitor buying Toshiba's (TOSBF) memory assets are overblown. The analyst feels Marvell's valuation remains attractive and once the company addresses concerns about fundamental trends in storage, the stock should outperform. Chin maintained his Buy rating and $21 price target on Marvell shares.

MRVL

Marvell

$15.26: -0.99 (-6.09%)

TOSBF

Toshiba, also use TOSYY

$2.07: -0.036 (-1.71%)

TOSYY

Toshiba, also use TOSBF

$12.20: -0.2 (-1.61%)

25
May
15
Jun

MRVL
TOSBF
TOSYY

MRVL Marvell

$15.26: -0.99 (-6.09%)

05/15/17: COWN

04/06/17

04/05/17: MKMP

03/30/17: MACQ

TOSBF Toshiba, also use TOSYY

$2.07: -0.036 (-1.71%)

03/31/17: UBSW

03/17/17: RBCM

02/27/17: MAXM

01/20/17: DBAB

TOSYY Toshiba, also use TOSBF

$12.20: -0.2 (-1.61%)

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Marvell shares will outperform when company addresses trends, says UBS

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