Piper Sandler on Marvell (MRVL): 'Growth to be Driven by XPU Proliferation'

Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and $85.00 price target on Marvell (NASDAQ: MRVL).

The analyst commented: "Growth to be Driven by XPU Proliferation; Last week, we had the opportunity to host management meetings with MRVL. We came away reaffirmed that the growth strategy for the company related to their XPU strategy is on track and is set to ramp significantly in the near to mid-term time frame. In our view, MRVL is one of only two companies that holds the necessary IP to service the leadingedge XPU market for hyperscaler customers, and we continue to believe this market will continue to be resilient as hyperscaler spend remains strong. Below are our key takeaways from the meetings."

For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.

Shares of Marvell closed at $77.40 yesterday.

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