BofA raised the firm’s price target on Marvell (MRVL) to $88 from $78 and keeps a Neutral rating on the shares. The firm, which now sees improved visibility for calendar year 2026 in the data center, tells investors that the CEO’s “confident webcast,” coupled with higher buyback activity, improves the firm’s optimism in the company’s FY27/28 prospects. The firm has raised its FY27 and FY28 estimates to be more inline with consensus at about 17.5% annual sales and pro-forma EPS growth of 5% and 9%, respectively.
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