Stifel and Oppenheimer Raise Marvell (MRVL) Targets on Bullish AI Outlook

Marvell Technology, Inc. (NASDAQ:MRVL) is included among the 10 Best US Stocks to Invest in for Long Term.

Stifel and Oppenheimer Raise Marvell (MRVL) Targets on Bullish AI Outlook

On April 16, Stifel analyst Tore Svanberg raised the firm’s price recommendation on Marvell Technology, Inc. (NASDAQ:MRVL) to $140 from $120. It reiterated a Buy rating on the shares. The analyst said the firm still sees volatility in AI-focused names as an opportunity for “long-term investors focused on picking clear technological innovators.” This view came as part of a preview for the analog, connectivity, and processors semiconductor group. The analyst also noted that premium valuations for AI-exposed names are justified, given the clear secular growth in the segment.

On April 15, Oppenheimer analyst Rick Schafer raised the firm’s price objective on MRVL to $170 from $150. The firm maintained an Outperform rating after hosting an investor meeting with company management. The analyst described the tone of the discussions as “unequivocally bullish,” with management pointing to an accelerating growth outlook driven by DCAI networking and ASIC. The firm also said it sees Marvell’s share as stable to increasing across its core networking markets.

Marvell Technology, Inc. (NASDAQ:MRVL), along with its subsidiaries, supplies data infrastructure semiconductor solutions, covering everything from the data center core to the network edge. The company focuses on designing, developing, and selling integrated circuits.

While we acknowledge the risk and potential of MRVL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MRVL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Dow Stocks to Invest In Now and 12 High Dividend Stocks Picked By Billionaire Ray Dalio

Disclosure: None. Follow Insider Monkey on Google News.