Wells Fargo said Marvell Technology (MRVL.US) has performed strongly this year, and as the company prepares to release its latest quarterly earnings report, its stock price remains poised for further gains. The investment bank rated the chipmaker "Overweight" and raised its price target from $240 to $310, suggesting an upside of nearly 31% from last Friday's closing price. "We view Marvell as a chip company with an independent growth logic, and believe its performance may outpace the industry's

Wells Fargo said Marvell Technology (MRVL.US) has performed strongly this year, and as the company prepares to release its latest quarterly earnings report, its stock price remains poised for further gains. The investment bank rated the chipmaker "Overweight" and raised its price target from $240 to $310, suggesting an upside of nearly 31% from last Friday's closing price. "We view Marvell as a chip company with an independent growth logic, and believe its performance may outpace the industry's

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Wells Fargo stated that Marvell Technology (MRVL.US) has performed strongly this year, and as the company prepares to release its latest quarterly financial report, its stock price is still expected to continue rising. The investment bank gave the chip manufacturer an “overweight” rating and raised the target price from $240 to $310, implying nearly 31% upside from last Friday’s closing price. “We believe Marvell is more like a chip company with an independent growth logic, and regardless of whether the overall chip industry is in a good or bad cycle, its performance may outpace the overall industry growth rate,” Wells Fargo analyst Aaron Rakers wrote in a report to clients.

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