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Fly News Breaks for July 17, 2019
MRVL
Jul 17, 2019 | 06:32 EDT
Citi analyst Atif Malik raised his price target for Marvell Technology Group to $30 from $27 to reflect higher 5G sales on expected Samsung share gains in 2020. Marvell is a key beneficiary of second wave of 5G cycle spend as carriers start to move to ASIC in the second half of 2019, Malik tells investors in a research note. He reiterates the company as his top specialty semis pick and keeps a Buy rating on the shares. The analyst sees upside to the Street's ~10% Samsung 5G market share Marvell assumption.
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