Morgan Stanley lowered the firm’s price target on Marvell (MRVL) to $63 from $65 and keeps an Equal Weight rating on the shares. The stock has meaningfully underperformed other names with AI exposure, notably (AMD) AMD and Intel (INTC), notes the analyst, who is “becoming more constructive as numbers pressures should start to ease.” However, the stock remains expensive, the analyst tells investors in a post-earnings note.
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