Marvell price target lowered to $45 from $55 at Barclays

Barclays analyst Blayne Curtis lowered the firm’s price target on Marvell to $45 from $55 and keeps an Overweight rating on the shares. The analyst rolled out 2024 estimates and became more positive on the semiconductor group but incrementally more negative on semiconductor capital equipment. The firm prefers stocks in 2023 that offer exposure to data center, PC and handset.