Barclays Maintains Overweight on Marvell Tech, Lowers Price Target to $70
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Blayne Curtis has maintained an Overweight rating on Marvell Technology (NASDAQ:MRVL) but reduced the price target from $75 to $70.
December 05, 2023 | 10:47 am
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Barclays has maintained an Overweight rating on Marvell Technology but lowered the price target from $75 to $70.
While the reduction in price target could suggest a more conservative outlook on the stock's future performance, the maintenance of an Overweight rating indicates that Barclays still sees Marvell Technology as a favorable investment. The mixed signals may lead to a neutral short-term impact on the stock price as investors digest both the positive rating and the lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100