UPDATE: Deutsche Bank Raises PT to $20 on Marvell Technology

Deutsche Bank raises its price target on Buy-rated Marvell Technology MRVL by $2, to $20, as HDD shortage is not expected to hamper the company's operations through 2H12. Deutsche Bank says, "A snapback in HDD production combined with new products for 7.5mm HDD and SSDs should contribute to steady gains in Storage revenue. A recovery in Storage combined with growing momentum in Networking and Mobile & Wireless should enable MRVL to outpace industry growth in 2H12/2013." MRVL closed at 16 yesterday.