Share your opinion about this news…

Marvell Stock Seen Rising 48% From Current Levels on Growth in Optical-Networking

Shares of Marvell Technology advanced before the opening bell on Thursday after an analyst team hiked its price target by 48%, based on the belief that Marvell's optical-networking opportunity will continue to bear fruit.KeyBanc Capital Markets analysts, led by John Vinh, late Wednesday raised their Marvell stock price target by 48% to $385 from $260 and reaffirmed an Overweight rating. The new price target is 33% higher than Wednesday's closing price of $289.54.Marvell stock rose 6.4% to $308.60 in premarket trading on Thursday. Shares also were getting a boost from President Donald Trump saying Intel had won a chip-manufacturing deal with Apple. Intel rose 9.3%.Marvell stock has advanced 51% in June, part of a 263% gain this year, according to Dow Jones Market Data.While Marvell remains well below that level, with a current market capitalization of $27.1 billion, KeyBanc's 48% price target hike is certainly a good sign for investors.Marvell would need a stock price of $1,143.12 to re
Marvell Stock Seen Rising 48% From Current Levels on Growth in Optical-Networking

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

  • Top
  • Latest
empty
No comments yet