Morgan Stanley Maintains Equal-Weight on Marvell Tech, Lowers Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joseph Moore has maintained an Equal-Weight rating on Marvell Tech (NASDAQ:MRVL) but has reduced the price target from $65 to $63.
December 01, 2023 | 2:18 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Morgan Stanley has maintained its Equal-Weight rating on Marvell Tech but lowered the price target from $65 to $63, indicating a potential limited upside or cautious stance on the stock's valuation.
The adjustment of the price target by Morgan Stanley reflects a modestly reduced expectation for Marvell Tech's stock performance. However, since the rating remains unchanged at Equal-Weight, the impact is likely to be neutral in the short term. Investors may view the price target cut as a sign of caution, but not necessarily a negative outlook, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100