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Fly News Breaks for November 29, 2017
CAVM, MRVL
Nov 29, 2017 | 08:59 EDT
MKM Partners analyst Ruben Roy raised his price target on Marvell (MRVL) to $30 after a Q3 earnings beat. Roy says the management continues to execute on its core business segment growth and profitability goals. The analyst keeps his Buy rating, adding that the pending acquisition of Cavium (CAVM) will also "materially improve Marvell's potential" with a more diversified revenue base weighed more towards the higher growth networking and data center markets.
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