Jefferies Assumes Marvell Tech at Buy, Lowers Price Target of $85
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Blayne Curtis has initiated coverage on Marvell Tech (NASDAQ:MRVL) with a Buy rating, while reducing the price target to $85.

May 13, 2024 | 12:18 pm
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Jefferies analyst Blayne Curtis assumes coverage on Marvell Tech with a Buy rating but lowers the price target to $85.
The initiation of coverage by Jefferies with a Buy rating is a positive signal for investors, indicating a bullish outlook on MRVL by a reputable analyst. However, the reduction in the price target may temper some of the optimism, suggesting that while the outlook is positive, expectations for the stock's performance have been moderated. This combination of factors is likely to have a net positive impact on MRVL's stock in the short term, as the endorsement of a Buy rating typically outweighs the negative sentiment from a lowered price target.
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