Marvell price target lowered to $67 from $70 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Marvell to $67 from $70 and keeps a Buy rating on the shares. The company reported a slight sales beat in the quarter as strength in data center more than offset weakness in enterprise and consumer, the analyst tells investors in a research note. However, Marvell’s guide and soft outlook for Q1 were both somewhat weaker as continued strength in data center is offset by worsening cyclical headwinds elsewhere, says the firm.