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Fly News Breaks for October 17, 2018
MRVL
Oct 17, 2018 | 09:17 EDT
MKM Partners analyst Ruben Roy kept his Buy rating and $27 price target on Marvell, saying he remains positive on the company after its recent investor meeting where the management forecast annualized growth of 6%-8% for the next several years. The analyst adds that the company is likely being conservative with its guidance given the "various upside drivers" for Marvell that include AI and 5G technologies. Roy also points to Marvell's discount valuation of 13-times forward earnings relative to the 16.3-times peer group average.
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