Craig-Hallum analyst Christian Schwab raised the firm’s price target on Marvell (MRVL) to $149 from $132 and keeps a Buy rating on the shares. The firm notes Marvell is a Top Idea heading into 2025 as a significant beneficiary of the accelerating ramp of multi-year AI megatrend. The company’s AI revenue was $550M in FY24 and is now expected to be significantly above the company’s previous expectations of over $1.5B in FY25, with FY26 AI revenue also expected to be significantly above its previous expectations of $2.5B, Craig-Hallum adds.
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