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Fly News Breaks for December 6, 2018
MRVL
Dec 6, 2018 | 08:56 EDT
Craig-Hallum analyst Christian Schwab lowered his price target for Marvell to $22 from $34 as top-line growth remains challenged. The analyst believes there is significant EPS potential for Marvell following its acquisition of Cavium, but notes that the company is seeing all of its Storage customers working through excess inventory. This softness in its Storage business is expected to last multi-quarters, he contends. Schwab reiterates a Buy rating on the shares.
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