Evercore ISI analyst Mark Lipacis lowered the firm’s price target on Marvell (MRVL) to $133 from $135 and keeps an Outperform rating on the shares. The firm would be buyers of Marvell following its “beat and raise” April quarter report, noting that the company reiterated its multi-generational programs with 2 XPU customers, who the firm believes to be Amazon (AMZN) and Microsoft (MSFT). Among AI stocks in the analyst’s coverage, Marvell is sporting the lowest PE and the highest EPS growth, which the analyst argues “makes it one of the best risk/reward AI plays in our coverage universe.”
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Read More on MRVL:
- Marvell price target raised to $73 from $70 at Morgan Stanley
- Marvell price target lowered to $95 from $120 at Wells Fargo
- Marvell Technology: Strategic Positioning and Growth Prospects Justify Buy Rating with $95 Price Target
- U.S. halts exports of chips, jet engine technology to China, NY Times reports
- Marvell’s Growth Potential: Buy Rating Backed by Custom AI Advancements and Cyclical Recovery
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