Why Marvell Technology Bumped Higher Again on Wednesday
One day after hitting an all-time high, Marvell Technology (NASDAQ: MRVL) stock repeated the feat on Wednesday. Over the course of the trading session, the semiconductor company's shares added nearly 4% to the previous day's close, following a new bullish analyst update on its prospects.
The pundit behind that fresh projection was Stifel's Tore Svanberg, who enacted quite a substantial price target raise on Marvell's equity. His new fair value assessment is $321 per share for the company, well up from his previous level of $230. Svanberg retained his buy recommendation on the shares.
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Source Fool.com
