KeyBanc analyst John Vinh raised the firm’s price target on Marvell (MRVL) to $135 from $125 and keeps an Overweight rating on the shares. The firm projects the company to post higher results and higher guidance, as it expects AI demand to remain robust driven by ramp of AI custom ASICS bolstered by strong optical. Channel feedback indicates positives such the Trainium Ultra win, which should bridge revenues until Maia V2 ramps in late 2026 and competitors such as Mellanox having issues with 1.6T DSP, KeyBanc adds.
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