HSBC analyst Frank Lee initiated coverage of Marvell (MRVL) with a Hold rating and $85 price target The growth of the artificial intelligence optical market limits the company’s earnings downside risk, but it has been a laggard application-specific integrated circuit relative to peers, the analyst tells investors in a research note. HSBC sees downside risk to the Street’s fiscal 2027 ASIC revenue estimates for Marvell.
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