Marvell Technology Target Raised as AI Demand Trends Surge

Marvell Technology’s Price Target Raised to $80 on AI Demand Trends

Investment bank BofA has raised the price target for Marvell Technology to $80 per share from $68, citing the company’s custom AI chip ramp. The decision was made after BofA analysts met with Marvell Technology’s management team at the CES tradeshow in Las Vegas. The team noted strong cloud AI demand trends at the company, prompting the price target increase.