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CAVM

Cavium

$84.02

8.19 (10.80%)

, MRVL

Marvell

$21.59

1.3 (6.41%)

09:04
11/21/17
11/21
09:04
11/21/17
09:04

Cavium downgraded to Neutral from Positive at Susquehanna

Susquehanna analyst Christopher Rolland downgraded Cavium (CAVM) to Neutral from Positive and lowered his price target to $83 from $85 following its announced acquisition by Marvell (MRVL). The analyst views the transaction as transformative for Marvell as Cavium provides a source of growth and massively expands its total addressable market. He noted its immediate synergies, but was disappointed with Marvell's use of so much stock in the transaction as there was much more room in their leverage ratio for using more cash. Rolland maintained his Positive rating and $27 price target on Marvell.

CAVM

Cavium

$84.02

8.19 (10.80%)

MRVL

Marvell

$21.59

1.3 (6.41%)

  • 27

    Nov

  • 28

    Nov

  • 28

    Nov

CAVM Cavium
$84.02

8.19 (10.80%)

11/21/17
MACQ
11/21/17
DOWNGRADE
Target $88
MACQ
Neutral
Cavium downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Srini Pajjuri downgraded Cavium (CAVM) to Neutral following the acquisition by Marvell (MRVL) saying he does not anticipate any other bidders for the company.
11/21/17
MSCO
11/21/17
DOWNGRADE
Target $85
MSCO
Equal Weight
Cavium downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Joseph Moore downgraded Cavium (CAVM) to Equal Weight from Overweight after the company announced an agreement to be acquired by Marvell Technology (MRVL), noting the deal had a higher stock component and higher cost synergies than his expectations. Moore also raised his multiple expectations for Marvell and increased his price target on its shares to $19 from $18.50.
11/21/17
LOOP
11/21/17
NO CHANGE
Target $26
LOOP
Buy
Marvell price target increased to $26 from $22 at Loop Capital
Loop Capital analyst Betsy Van Hees raised her price target on Marvell (MRVL) following its announcement to acquire Cavium (CAVM) for $6B. The analyst says the acquisition provides Marvell with increased scale, broader product and market diversification, and accretion to sales, earnings, and margins. Van Hees keeps her Buy rating but warns that the timing of the acquisition at a period of multiple tail wind factors is suspicious, possibly signalling the ramp for new product development may be slower than expected.
11/21/17
LOOP
11/21/17
DOWNGRADE
Target $84
LOOP
Hold
Cavium downgraded to Hold from Buy at Loop Capital
Loop Capital analyst Betsy Van Hees downgraded Cavium (CAVM) to Hold saying she does not expect a competing bid to Marvell's (MRVL) takeover offer. The analyst raised her price target for the shares to $84 from $81.
MRVL Marvell
$21.59

1.3 (6.41%)

11/21/17
JEFF
11/21/17
UPGRADE
Target $27
JEFF
Buy
Marvell upgraded to Buy from Hold at Jefferies
Jefferies analyst Mark Lipacis upgraded Marvell Technology Group (MRVL) to Buy following the company's acquisition of Cavium (CAVM). The product portfolios are synergistic and the deal creates better scale, Lipacis tells investors in a research note. The analyst estimates earnings accretion of 19% in 2018 and a 2019 earnings per share power of $1.79 which represents 43% accretion. He raised his price target for Marvell to $27 from $18.50. Barclays this morning also upgraded the shares.

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JDST

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AXTA

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AVY

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HIW

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HIW

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AMTD

TD Ameritrade

$59.07

-2.14 (-3.50%)

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VXX

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$44.04

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BKU

BankUnited

$39.42

-0.37 (-0.93%)

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TVIX

VelocityShares Daily 2x VIX Short-Term ETN

$8.03

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AVY

Avery Dennison

$105.49

-1.505 (-1.41%)

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SVXY

ProShares Short VIX Short-Term Futures

$11.98

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AXTA

Axalta Coating

$29.70

-0.64 (-2.11%)

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AVY

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$105.49

-1.505 (-1.41%)

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CBS

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, VIA

Viacom

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CREE

Cree

$39.39

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AVY

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Earnings
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USO

United States Oil Fund

$13.68

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NDAQ

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XOP

SPDR Oil Exploration and Production Fund

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DGAZ

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