Marvell price target lowered to $100 from $110 at UBS

UBS lowered the firm’s price target on Marvell (MRVL) to $100 from $110 and keeps a Buy rating on the shares. UBS expects Marvell to report Q1 results in-line with estimates, with Q2 revenue guided in the range of $2B, with AI revenue up almost 10% quarter over quarter, the analyst tells investors in a research note. It is already well understood that management has set a low bar given the ramp of Trainium2 and continued momentum in the optical business alongside Nvidia’s (NVDA) Blackwell rollout, the firm adds.