TD Cowen raised the firm’s price target on Marvell (MRVL) to $70 from $60 and keeps a Buy rating on the shares. The firm said an in-line print/guide with strong language on 3nm engagement with Amazon (AMZN), but “multiple paths” commentary is likely to continue to concern investors who will be hoping for more detail at the June AI webinar. Long-term momentum is there, but lack of “upside” in a strong spending environment, and inherent limited visibility in custom is likely to keep the stock a battleground.
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Read More on MRVL:
- Marvell price target lowered to $90 from $110 at Raymond James
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