Marvell price target lowered to $55 from $60 at Barclays

Barclays analyst Blayne Curtis lowered the firm’s price target on Marvell Technology Group to $55 from $60 and keeps an Overweight rating on the shares post the Q3 results. The analyst says storage is the biggest near-term headwind but that the softness is "much broader and the correction likely lingers into next year." He expects enterprise and the cloud to get worse.