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Fly News Breaks for May 25, 2018
CAVM, MRVL
May 25, 2018 | 07:46 EDT
Oppenheimer analyst Rick Schafer reiterated an Outperform rating on Marvell Technology (MRVL) and $30 price target ahead of the company's Q1 earnings on May 31. In a research note to investors, Schafer said he anticipates upside driven by core storage and networking, improving mix and cost controls. Commenting on the proposed Cavium (CAVM) acquisition, which is expected to close in June or July, the analyst noted that CIFUS approved the deal yesterday, leaving Chinese approval from MOFCOM as the final hurdle.
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