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Oppenheimer raised its Marvell price forecast to $200 from $170 and maintained an Outperform rating.
Oppenheimer and RBC Capital both raised Marvell's price target to $200, citing AI networking growth.
KEY POINTS
- Marvell's optics business has compounded at 50% annually and may grow over 60% this year.
- Wells Fargo highlighted AWS Trainium expansion as a major driver for Marvell's future Custom XPU revenue.
- Marvell's next earnings estimate is $0.75 EPS and $2.4B revenue, both up year-over-year.
- Marvell is trading at a 62.1x P/E, indicating a premium valuation versus peers.
COMPANIES
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