Marvell price target lowered to $72 from $75 at Stifel

Stifel analyst Tore Svanberg lowered the firm’s price target on Marvell to $72 from $75 and keeps a Buy rating on the shares following a slight October-end quarter revenue beat and slightly lower January-end quarter outlook. Strong execution on key financials and an increasingly diversified business bode well for a return to 15% long-term CAGR, once non-datacenter businesses stabilize, the analyst tells investors.