BofA lowered the firm’s price target on Marvell (MRVL) to $120 from $150 and keeps a Buy rating on the shares. The stock was under pressure in after-hours trading following a “modest Q4 beat” and Q1 raise despite strong AI spending at top customer Amazon (AMZN), notes the analyst. While the firm understands the stock reaction, it modestly tweaked up its FY26, FY27 and FY28 estimates and says it continues to view Marvell as “a top-3 AI vendor,” along with Nvidia (NVDA) and Broadcom (AVGO).
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