Morgan Stanley Opens 60-Day Research Tactical Idea on Cavium Networks

Morgan Stanley has opened a research tactical idea on Cavium Networks

believing the share price will rise over the next 60 days. In the report, Morgan Stanley writes, "We believe today's announcement at the Mobile World Congress that HTC's new Medialink HD wireless TV adapter uses Cavium's PureVu-based media SoC for wireless display and home media streaming capabilities will be a positive catalyst for CAVM stock. HTC represents CAVM's first handset/tablet customer for CAVM's PureVu products, and could be the first of many such announcements over the next several weeks." Morgan Stanley maintains its Overweight rating on Cavium Networks, which is currently trading up $1.74 from Friday's $35.73 closing price.