TECH - Marvell Analyst Tags Stock as Top Pick for AI Boom Predicts Significant Industry Upswing | Benzinga
Evercore ISI Group analyst Mark Lipacis initiated coverage on Marvell Technology Inc (NASDAQ:MRVL) with an Outperform rating and a price target of $88.
The analyst initiated coverage of the semiconductor sector with an optimistic outlook, both from secular and cyclical perspectives.
He highlighted a positive long-term view, particularly favoring companies engaged in Parallel Processing, such as Nvidia Corp (NASDAQ:NVDA), Advanced Micro Devices, Inc (NASDAQ:AMD), Broadcom Inc (NASDAQ:AVGO), and Marvell, as well as those in the Internet of Things (IoT) sector like Texas Instruments Inc (NASDAQ:TXN), Analog Devices Inc (NASDAQ:ADI), Microchip Technology Inc (NASDAQ:MCHP), and NXP Semiconductors NV (NASDAQ:NXPI).
According to the analyst, these companies will likely lead in segments predicted to experience the highest growth.
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