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Fly News Breaks for September 6, 2016
MRVL
Sep 6, 2016 | 12:20 EDT
Cowen analyst Timothy Arcuri recommends using today's post-earnings selloff in shares of Marvell Technology Group as a buying opportunity. The company's guidance "clearly appears conservative," Arcuri tells investors in a research note. He says Marvell may be one of the only stocks in Semiconductor space that still has 50%-plus upside potential from current levels. The analyst raised his price target for the shares to $16 from $15 and keeps an Outperform rating on the name.
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