Stifel Reiterates Buy Rating on Marvell (MRVL)

Stifel analyst Tore Svanberg reiterated a Buy rating and $130.00 price target on Marvell (NASDAQ: MRVL).

The analyst commented, "Expect Jan Q results in-line with or slightly higher than our $1.80bn/ $0.59 est. for revs/ NG EPS, based on: Data Center q/q growth in the low/mid-20% on cont’d strong AI/DC ramps; Carrier Infra. and Enterprise Networking up mid-teens % q/q; Auto/Industrial up low/mid-single digits % q/q; and Consumer down mid-teens % q/q.Expect Apr Q guidance midpoint above our $1.84bn est. (+2.0% q/q), on cont’d DC/AI momentum even as non-AI end markets appear to have troughed. With DC now 73% of Oct Q revs, we highlight hyperscaler commentary, reaffirming robust current-year capex budgets (GOOG +43% y/y; MSFT +~40% y/y in FY25E; META +59% y/y; AMZN +27% y/y).Reiterate Buy and 12-month TP of $130 (14.8x CY25E EV/Sales)."

For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.

Shares of Marvell closed at $87.65 yesterday.

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