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Fly News Breaks for March 5, 2020
MRVL
Mar 5, 2020 | 06:04 EDT
Piper Sandler analyst Harsh Kumar raised the firm's price target on Marvell to $32 from $30 and reiterates an Overweight rating on the shares. Marvell's core storage and networking businesses are improving after the company reported January quarter results and April quarter guidance ahead of Street expectations, Kumar tells investors in a research note. The analyst is impressed with the company's near-term execution, and believes Marvell has several growth drivers in place for the second half of calendar 2020.
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