Barclays analyst Tom O’Malley upgraded Marvell (MRVL) to Overweight from Equal Weight with a price target of $150, up from $105. Marvell is “first and foremost an optical company and with ports growing rapidly the market growth carries the name alone,” the analyst tells investors in a research note. Barclays believes the company’s optical business could grow 90% for this year and next, even with some market share shift to Broadcom (AVGO).
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