Marvell Technology (MRVL) has a positive risk/reward outlook and represents a buying opportunity, given the share price drop after its fiscal Q4 results, Deutsche Bank said in a Thursday note.
The company reported solid results but not as large as investors had hoped for, resulting in a sharp drop in share prices, analyst Ross Seymore said.
The analyst said he remained impressed by its AI business and the chief executive officer's confidence in continued growth.
With the company "executing strongly" towards its long-term targets, Deutsche Bank reiterated its buy rating.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 74.67, Change: -15.47, Percent Change: -17.16
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