Wells Fargo analyst Aaron Rakers raised the firm’s price target on Marvell (MRVL) to $130 from $110 and keeps an Overweight rating on the shares. The firm notes Marvell delivered upside driven by datacenter/custom-AI silicon and optics momentum. Wells sees path to $4-plus EPS upside supported by top-line acceleration/upside and AI positioning plus operating leverage potential.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRVL:
- China retaliates against U.S. chip restrictions, FT reports
- Marvell price target raised to $115 from $85 at Barclays
- Marvell Technology Reports Strong Q3 Revenue Growth
- Closing Bell Movers: Salesforce gains 3%, Okta up 14% after earnings
- MRVL Earnings: Marvell Technology Stock Rises 10% on Strong Financial Results