Price Target Changes: Marvell Technology (MRVL), Valeant (VRX), Anadarko (APC), Illumina (ILMN)

Wall Street

Marvell Technology Group Ltd. (MRVL) was reiterated a ‘Neutral’ by MKM Partners analysts on Tuesday. The broker also raised its price target on the stock to $10 from $9.

Shares have traded today between $9.69 and $9.91 with the price of the stock fluctuating between $7.40 to $14.73 over the last 52 weeks.

On valuation measures, Marvell Technology Group shares have a t-12 price/sales ratio of 1.66. EPS for the same period registers at ($0.72).

Shares of MRVL are flat to $9.75 in midday trading on Tuesday, giving it a market cap of roughly $5 billion. The stock traded as high as $14.73 in June 22, 2015.

Valeant Pharmaceuticals International, Inc. (VRX) was reiterated as ‘Buy’ with a $102 from $105 price target on Tuesday by Rodman & Renshaw. The firm said that while the company’s growth is likely to be dampened for some time, it remains confident that it can negotiate a turnaround over the course of the coming months.

Shares of Valeant are up nearly 15% at $37.43 as of this writing.

Anadarko Petroleum Corporation (APC) rating of ‘Buy’ was reiterated today at UBS with a price target increase of $64 from $60 (versus a $51.95 previous close).

APC was down $2.10 at $49.85 in midday trade, moving within a 52-week range of $28.16 to $95.75. The name, valued at $25.73 billion, opened at $50.67.

As for passive income investors, the company pays stockholders $0.20 per share annually in dividends, yielding 0.38%.

Shares of Illumina Inc. (ILMN) are down $1.78 at $134.14 in midday trading. UBS this morning lowered its price target on the shares to $180 from $210. The name was also lowered to $130 from $140 at Morgan Stanley (MS) ahead of tonight’s Q1 report. Wall Street analysts are on average expecting the provider of sequencing and array-based solutions for genetic analysis to post $596.33 million in sales during the quarter. This would show a 0.82% increase from the Q415 revenue of $591.5 million, as well as an increase of 10.64% from the same period in Q115. EPS in Q116 are expected to come in at $0.74, a decline rate of 18.68% from $0.91 per share a year earlier. Meanwhile, EarningsWhisper.com reports a whisper number of $0.80 per share.

As a quick reminder, Illumina reported Q415 EPS of $0.70, $0.12 lower than the Street’s consensus estimate. Revs increased 15.53% YoY to $591.5 million versus the $585.18 million consensus.

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