Marvell initiated with a Hold at Loop Capital

Loop Capital initiated coverage of Marvell (MRVL) with a Hold rating and $95 price target. The company is clearly a beneficiary from the investments cloud service providers are making into high-performance general-purpose computing as well as accelerated computing for AI training and inference, but with shares trading at about 45.0 times next 12 months’ earnings – a notable premium even to Nvidia (NVDA) – shares look “appropriately valued”, the analyst tells investors in a research note.