Rosenblatt lowered the firm’s price target on Marvell (MRVL) to $115 from $120 and keeps a Buy rating on the shares. Based on management’s cost and revenue estimates after the acquisition of Celestial AI was completed, the firm is reducing its FY27 non-GAAP EPS estimate by 20c and its FY28 non-GAAP EPS estimate by 16c.
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