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Barchart
Barchart
Aanchal Sugandh

Marvell Stock Just Got a New Street-High Price Target. Should You Buy Shares Here?

Marvell Street Oppenheimer Marvell Technology MRVL

Oppenheimer Holdings (OPY) came away from its latest huddle with Marvell Technology (MRVL) feeling like it had struck gold, promptly lifting its price target for the stock as management painted a confident picture of surging demand in artificial intelligence (AI) data center networking and application-specific integrated circuits (ASIC).

Analyst Rick Schafer and his crew picked up that same drumbeat after meeting key officials in Europe, where management spoke plainly and struck a firmly bullish tone. They pointed to accelerating growth driven by Data Center AI (DCAI) networking and ASIC, with momentum showing no signs of cooling off.

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