BofA raised the firm’s price target on Marvell (MRVL) to $90 from $80 and keeps a Buy rating on the shares after the company hosted a dedicated event for its custom-compute, or ASIC, segment. The firm, which thinks the AI update could reassure investors and help the stock catch-up to its AI peers, estimates “conceptual EPS power” of about $8 by calendar year 2028, which it notes would be above the roughly $6 based on last year’s total addressable market and nearly 60% above the $5 or so in current Street consensus.
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Read More on MRVL:
- Marvell’s Promising Growth: Buy Rating Backed by AI Solutions and Market Expansion
- Cautious Optimism for Marvell: Hold Rating Amid AI Growth Potential and Near-term Revenue Challenges
- Marvell price target raised to $76 from $67 at Melius Research
- Marvell’s Strategic Growth in AI Datacenter Networking and ASIC Business: A Buy Recommendation by Harlan Sur
- Marvell’s Growth Potential in AI and Data Centers: Buy Rating with $90 Price Objective