BUZZ-Marvell Technology up as Morgan Stanley raises PT ahead of earnings
Reuters
Yesterday
BUZZ-Marvell Technology up as <a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> raises PT ahead of earnings
** AI chipmaker Marvell Technology's MRVL.O shares rise 2.8% to $91.90
** Morgan Stanley raises PT to $86 from $76, still implying a downside of 3.8% to stock's last close
** Brokerage says it expects data center revenue to be flat in the coming quarter, with strong demand for optical components used in high-speed data transfers
** "We model a return to data center growth in the JanQ, and see potential for upside from AI optics" - Morgan Stanley
** Average rating of 43 analysts is "buy," their median PT is $90 - data compiled by LSEG
** Up to last close, MRVL has fallen 19.1% this year
(Reporting by Anhata Rooprai in Bengaluru)
((Anhata.Rooprai@thomsonreuters.com))
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