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MRVL

Marvell

$23.71

0.31 (1.32%)

08:51
06/27/19
06/27
08:51
06/27/19
08:51

Marvell price target raised to $28 from $26 at Cowen

Cowen analyst Karl Ackerman raised his price target on Marvell to $28 from $26 and said the company remains in the middle innings of transforming itself from a laggard to a leader in semis as it continues to reposition its product portfolio toward secular demand drivers. He said it remains one of the most levered names in semis to the 5G network and the July quarter should represent the nadir as its many design wins should soon hit the bottom line allowing the company to achieve its $1.70+ earnings power in 2021. Ackerman reiterated his Outperform rating on Marvell shares.

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MRVL Marvell
$23.71

0.31 (1.32%)

06/19/19
06/19/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Fiserv (FISV) initiated with an Outperform at Wells Fargo. 2. KemPharm (KMPH) initiated with a Buy at H.C. Wainwright. 3. Marvell (MRVL) initiated with a Market Perform at Raymond James. 4. Citizens Financial (CFG) initiated with a Hold at Argus. 5. Boot Barn (BOOT) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/19/19
RAJA
06/19/19
INITIATION
RAJA
Market Perform
Marvell initiated with a Market Perform at Raymond James
Raymond James analyst Chris Caso initiated Marvell with a Market Perform rating, saying that while the company's investment "story" is strong, there may not be enough upside in the stock price over the next 3 years relative to the current valuation. The analyst believes that a positive inflection point for Marvell will not arrive until 2021 when 5G technology development "fully ramps" and its strategic changes from recent acquisitions start to take hold. Caso sees the stock as "fairly valued" with potential for a bull case being "too uncertain" at this time.
05/31/19
MKMP
05/31/19
NO CHANGE
Target $28
MKMP
Buy
Marvell price target raised to $28 from $25 at MKM Partners
MKM Partners analyst Ruben Roy raised his price target on Marvell to $28 and kept his Buy rating after the company produced "solid Q1 results" in a "challenging environment". The analyst cites the management's view of storage revenue tracking in line with the current market conditions and customers' expectations of a stronger demand coming in the second half of the year. Roy also notes that Marvell's core networking revenue has performed well within a challenging environment, even though it is expected to be down slightly in Q2. The analyst maintains a positive outlook on Marvell in spite of the volatility around its shares related to Huawei and trade tensions, saying it is well positioned in the infrastructure markets and with increasing exposure to 5G technology.
05/31/19
JPMS
05/31/19
NO CHANGE
Target $27
JPMS
Overweight
Marvell price target raised to $27 from $24 at JPMorgan
JPMorgan analyst Harlan Sur raised his price target for Marvell Technology Group to $27 from $24 saying the company reported April quarter revenue above the midpoint of guidance on better than expected Storage revenue. The analyst views the results as "solid" and continues to see "meaningful upside" in the shares from current levels. He maintains an Overweight rating on the name.

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