Marvell price target raised to $45 from $41 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Marvell to $45 from $41 and keeps an Equal Weight rating on the shares. Following the quarterly report, the firm’s numbers "come down meaningfully," but its target is moving from calendar 2023 to 2024, accounting for the price target increase. The firm adds it remains a "constructive" Equal Weight as it does want exposure to the company’s data center businesses, but it needs to get more visibility on the cloud silicon business.