Marvell price target raised to $122 from $98 at Evercore ISI

Evercore ISI analyst Mark Lipacis raised the firm’s price target on Marvell (MRVL) to $122 from $98 and keeps an Outperform rating on the shares. The firm would be buyers heading into the company’s October-end quarterly report as it sees the set up as more positive. The firm sees a year-over-year growth peak ahead, next twelve months EPS forecasts expanding and calls customers comments “encouraging,” the analyst tells investors in a preview.