Marvell resumed with a Strong Buy at Raymond James

Raymond James resumed coverage of Marvell (MRVL) with a Strong Buy rating and $121 price target While stating that the stock “faces somewhat more controversy” than the leading AI GPU and ASIC suppliers, it adds that Marvell benefits directly from the expansion of AI-infrastructure spending. Marvell is “well positioned to thrive” when advanced packaging becomes the market model with chiplets and massive amounts of interconnect, the analyst tells investors.