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Fly News Breaks for January 12, 2018
CAVM, MRVL
Jan 12, 2018 | 11:16 EDT
Jefferies analyst Mark Lipacis left a recent meeting with management believing Marvell Technology (MRVL) is positioned to benefit from secular trends in its core business as well as from the pending acquisition of Cavium (CAVM). Expectations have been managed appropriately and both could potentially drive upside to estimates, Lipacis tells investors in a research note. He continues to see $1.80 in earnings per share power for the combined entity and keeps a Buy rating on the shares with a $28 price target.