Marvell (MRVL) shares are trading slightly higher this morning after Deutsche Bank analyst Sukhi Nagesh upgraded the shares to Buy from Hold, with a new price target of $28, up from $18.
“Over the last few quarters we were more constructive on MRVL stock and now have increased confidence in the company’s growth prospects especially in the storage and mobile segments,” Nagesh writes in a research note. “We believe the company is well positioned to outperform the overall semiconductor industry and its peers this year and next.”
Nagesh now sees EPS for the January 2011 fiscal year of $1.24, up from $1.15.
MRVL this morning is up 13 cents, or 0.6%, to $21.97.
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