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Fly News Breaks for September 7, 2016
MRVL
Sep 7, 2016 | 07:15 EDT
Brean Capital analyst Mike Burton said Marvell's new strategic plan is to focus on core markets. The analyst believes a restructuring or major cost cutting initiative is the likely next step toward its goals. Burton is optimistic about the new management team and senses the company guidance is conservative. Burton reiterated his Buy rating and $15 price target on Marvell shares.
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