Bank of America Downgrades Marvell Technology and Adjusts Price Target
UBS UBS Group AG
$49.17 +0.43%
View chart & analysis → - 1Bank of America lowered its price target for Marvell Technology Inc from $400 to $225 and downgraded its investment rating from buy to neutral.
- 2The price target was calculated using a projected earnings multiple of 20 times Marvell Technology Inc's estimated 2028 earnings.
- 3UBS viewed the Lumigent acquisition positively, stating that the combination of electrical and optical technologies aids in the development of integrated connectivity products.
So what's the key point?
Bank of America lowered its outlook for Marvell Technology Inc. The bank adjusted its price target from $400 to $225 and suggested a more cautious approach.
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