Shares of Marvell Technology Inc (NASDAQ:MRVL) rallied in early trading on Friday, after the company reported strong fourth-quarter (Q4) results.
Here are the key analyst insights:
- BofA Securities analysts upgraded the rating from Neutral to Buy, while raising the price target from $90 to $110.
- Goldman Sachs analyst James Schneider reiterated a Neutral rating, while lifting the price target from $90 to $100.
- JPMorgan analyst Harlan Sur maintained an Overweight rating, while raising the price target from $130 to $135.
- Rosenblatt Securities analyst Kevin Cassidy reaffirmed a Buy rating, while lifting the price target from $115 to $140.
Check out other analyst stock ratings.
BofA Securities: Analysts said in the upgrade note that Marvell’s earnings call inspired greater confidence in:
- The company’s “solid leverage to AI optical connectivity”
- Potential for success in Microsoft Corp’s (NASDAQ:MSFT) upcoming custom chip (XPU) program
- Turning the corner on Amazon.com Inc (NASDAQ:AMZN) XPU transition year
The analysts raised their sales estimates for fiscal 2027 and 2028 by 8% and 12% and pro-forma earnings estimates by 15% and 12% to $3.82 per share and $5.43 …