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Fly News Breaks for December 5, 2016
MRVL
Dec 5, 2016 | 05:40 EDT
Goldman Sachs analyst Mark Delaney downgraded Marvell Technology Group to Sell saying the company's key markets are in secular decline while a turnaround will be more difficult following R&D spending cuts. Most of the positive catalysts investors were looking for are now priced into shares, Delaney tells investors in a research note. He cut his price target for Marvell shares to $12 from $14.
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