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Fly News Breaks for June 27, 2018
CAVM, MRVL
Jun 27, 2018 | 07:13 EDT
As previously reported, Deutsche Bank analyst Ross Seymore upgraded Marvell (MRVL) to Buy from Hold, stating that he sees the upside greatly favoring the downside potential in the stock following the pullback in the shares. Despite somewhat disappointing first quarter results from both Marvell and Cavium (CAVM), he still see EPS power of at least $1.75 in 2020 for the combined companies, he tells investors. Seymore maintains a $24 price target on Marvell shares.
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