MRVL - 1 Wall Street Analyst Thinks Marvell Technology Stock Is Going to $100. Is It a buy Around $67?
2024-03-19 09:03:46 ET
At first glance, predicting that a stock is poised to increase 50% is a bold move for any individual analyst. To a degree that's certainly true, but these days there are several market pundits who are very bullish on Marvell Technology (NASDAQ: MRVL) stock.
Among these optimists, Piper Sandler 's Harsh Kumar is one of the more bullish, and he definitely considers the stock a buy right now. Let's see if he's justified in his view.
More than a few pundits and investors were disappointed by Marvell's Q4 results, but not Kumar. Less than 24 hours after the company published its Q4 and full-year fiscal 2024 numbers, he raised his price target. He reset his $70 target upward to $100 per share. Kumar thinks the stock has a 49% upside over the next 12 months or so. It would follow too that Kumar maintained his overweight (read: buy) recommendation.
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1 Wall Street Analyst Thinks Marvell Technology Stock Is Going to $100. Is It a buy Around $67?