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Fly News Breaks for July 15, 2019
MRVL
Jul 15, 2019 | 08:55 EDT
William Blair analyst Alessandra Vecchi initiated coverage of Marvell Technology Group with an Outperform saying the company deserves a premium multiple given its "strong" secular growth drivers, pivot toward infrastructure markets, and room for gross and operating margin improvement. Further, he expects 5G revenue to make a more material contribution in the company's fiscal 2022, a year he anticipates Marvell's earnings per share power in the $1.70 to $1.80 range, potentially above its long-term target model of 6% to 8%.
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