Marvell Holds Attractive Risk-Reward, BMO Says In Upgrade

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Marvell Technology Group Ltd. MRVL received another positive endorsement Tuesday from BMO Capital Markets after Friday's upgrade by Stifel. 

The Analyst

Analyst Ambrish Srivastava upgraded Marvell Tech from Market Perform to Outperform with a $24 price target, suggesting about 34-percent upside from current levels.

The Thesis

The risk-reward in Marvell Tech shares is attractive, with the possibility of $6 upside and $2 downside, Srivastava said in a Tuesday note. (See his track record here.) 

The estimates for the company are reasonable, "especially after Marvell cleared the deck on the Cavium estimates and management has a built a track record of executing," the analyst said. 

Marvell Tech completed its acquisition of fabless semiconductor company Cavium in July.

Marvell  has a strong track record of executing, Srivastava said.

The Price Action

Marvell Tech shares have lost about 15 percent year-to-date. The stock was up 2.8 percent at $18.63 at the time of publication Tuesday. 

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Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsAmbrish SrivastavaBMO Capital Markets
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