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Fly News Breaks for March 29, 2017
EXAR, MXL
Mar 29, 2017 | 11:56 EDT
Benchmark analyst Gary Mobley raised his price target on MaxLinear (MXL) to $35 from $30 based on the expected EPS accretion from the company's agreement to acquire Exar (EXAR). Mobley sees good synergies in the companies' product mix, customer profile and go-to-market strategies and also likes the diversity this deal brings to MaxLinear, he told investors. He keeps a Buy rating on MaxLinear shares, which are up 3% to $27.33 in late morning trading following the deal announcement.
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