Marvell (MRVL) stock has continued drawing bullish attention from Wall Street analysts as demand for AI chips and data centers remains strong. Several analysts have recently raised their price targets on the semiconductor company.
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Among the more bullish firms is Melius Research analyst Ben Reitzes, who raised his price target on MRVL stock to $220 from $140 and kept a Buy rating.
Why Is Reitzes So Bullish on MRVL Stock?
Reitzes said recent changes tied to AI chip and memory demand remain “incrementally good” for companies such as Marvell. The analyst also argued that semiconductor companies could keep gaining market share and investor attention. This would see them take that attention from traditional software firms over the long run.
Other analysts have also turned more positive on Marvell stock in recent weeks.
- Oppenheimer analyst Rick Schafer raised his price target to $200 from $170 while maintaining a Buy rating.
- Wells Fargo analyst Aaron Rakers increased his target to $195 from $135 and assigned a Buy rating.
- Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating and boosted his price target to $190 from $140.
- RBC Capital analyst Srini Pajjuri also reiterated a Buy rating alongside a $200 price target.
What About the Best Analysts Covering MRVL Stock?
Among analysts covering Marvell stock, Citi analyst Atif Malik ranks among the most accurate over the past three months. Malik has generated a 70% success rate with an average return of 15.41% per rating. He has a Buy rating and a $118 price target for MRVL stock.
Over the past year, UBS analyst Timothy Arcuri ranks among the strongest performers covering MRVL stock. Arcuri has generated an 80% success rate with an average return of 45.57% per rating. He holds a Buy rating and $119 price target for MRVL stock.
Meanwhile, Craig-Hallum analyst Christian Schwab ranks among the top long-term performers covering the stock. Over the past two years, Schwab has generated a 100% success rate with an average return of 106.28% per rating. He has a Buy rating and $164 price target for MRVL stock.
