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Fly News Breaks for February 7, 2020
MRVL
Feb 7, 2020 | 08:01 EDT
Cowen analyst Karl Ackerman downgraded Marvell to Underperform from Outperform as he sees downside risk to investor expectations through 2022. He pointed out the company contends with elongated 5G infrastructure spending and unbalanced 5G provider exposure, structural headwinds to the consumer HDD business, encroachment from SSD providers, and long-term risk from co-competition with Networking OEMs. Ackerman lowered his price target to $18 from $27 on Marvel shares.
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