Citi lowered the firm’s price target on Marvell (MRVL) to $92 from $96 and keeps a Buy rating on the shares. The company reported in-line results but its data center business came in modestly below expectations, the analyst tells investors in a research note. Citi reduced estimates but expects the stock to recover the post-earnings losses.
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Read More on MRVL:
- Marvell downgraded to Neutral from Buy at BofA
- Marvell’s Long-Term Growth Potential: A Buy Rating Amid Short-Term Uncertainties
- Marvell Technology Group: Buy Rating Reaffirmed Amid Short-Term Challenges and Strategic Advancements
- ‘Lack of Upside’ in Marvell’s Q2 Results Will Intensify Investor Concern, Says TD Cowen
- Marvell Technology Reports Record Revenue Growth