B. Riley lowered the firm’s price target on Marvell Technology to $75 from $77 and keeps a Buy rating on the shares. The analyst reduced estimates to reflect the Q4 outlook. “Bears can say multi-segment Networking and Comms growth is going the wrong way near term, but we believe the former is in the bottoming process, while the latter is notoriously lumpy,” the analyst tells investors in a research note. The firm sees an opportunity at current share levels.
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