Citi lowered the firm’s price target on Marvell (MRVL) to $96 from $122 and keeps a Buy rating on the shares. The firm reduced estimates to reflect macro uncertainty. It cut hyperscalers capex estimates by 5% in both 2025 and 2026, reflecting mostly Microsoft (MSFT) capex cut concerns plus uncertainty around the global economy due to the ongoing tariff dispute. That said, the bad news is largely priced into Marvell shares, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRVL:
- Marvell call volume above normal and directionally bullish
- Marvell price target lowered to $60 from $95 at TD Cowen
- AI Daily: Meta defends new AI models’ benchmark results
- USTR Greer says pharmaceuticals, semis need own trade investigations
- Marvell sale of auto ethernet business makes ‘good sense,’ says Rosenblatt