Argus raised the firm’s price target on Marvell to $95 from $75 and keeps a Buy rating on the shares after its Q4 results and guidance last week. The company’s data center business is gaining momentum from AI, even though the enterprise demand has been slow to recover and carrier spending has softened after an extended growth phase, the analyst tells investors in a research note. Argus adds however that despite the current macroeconomic volatility, the firm sees Marvell being positioned for increased momentum in AI and recovery in other key markets over time.
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