Marvell price target lowered to $65 from $75 at BMO Capital

BMO Capital analyst Ambrish Srivastava lowered the firm’s price target on Marvell to $65 from $75 and keeps an Outperform rating on the shares. The analyst cites the company’s downward revision on guidance amid weakness in the storage business and the "swooning away" of China’s networking business. Srivastava adds that he was incorrect in the assumption that Marvell’s major networking products would bide the company some time.