UBS Maintains Buy on Marvell Tech, Lowers Price Target to $70
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Timothy Arcuri has maintained a Buy rating on Marvell Technology (NASDAQ:MRVL) but has reduced the price target from $75 to $70.

December 01, 2023 | 6:45 pm
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NEUTRAL IMPACT
UBS has maintained a Buy rating on Marvell Technology but lowered the price target from $75 to $70, indicating continued confidence in the company's prospects albeit with a slightly reduced growth expectation.
While the reduction in price target could suggest a more conservative view on the company's near-term growth potential, the maintenance of a Buy rating indicates that UBS still sees Marvell Technology as a favorable investment. The impact on the stock price is likely to be neutral in the short term as the positive sentiment from the Buy rating could be offset by the lowered price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100