Stifel raised the firm’s price target on Marvell (MRVL) to $125 from $114 and keeps a Buy rating on the shares following October quarter results that came in at the high-end of guidance and a “strong” January quarter guidance raise. With production ramps at two lead hyperscalers, the custom ASIC business is shifting into “higher gear,” the analyst tells investors in a post-earnings note.
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