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Fly News Breaks for July 20, 2016
MRVL
Jul 20, 2016 | 09:08 EDT
Cowen expects next week's Q2 results for Marvell to represent a near-term bottom in earnings. The firm believes earnings will be close to breakeven and that management is refocused on cost cutting. Cowen expects even with little to no business improvement, Marvell's earnings power could get back to roughly $1.00 per share. Cowen reiterated its Outperform rating and $15 price target on Marvell shares.
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