Wells Fargo lowered the firm’s price target on Marvell (MRVL) to $90 from $95 and keeps an Overweight rating on the shares. The firm notes shares are under pressure as “lumpy” Custom XPU plus persisting competitive concern outweighs reiterated confidence in forward design win traction. Wells slightly lower estimates, but maintains the thesis on path to $4-plus EPS.
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Read More on MRVL:
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