Bank of America Boosts Price Target for This Chip Holding
We doubt BofA will be the only ones. Here's our plan.
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Yesterday, shares of Marvell Technology (MRVL) were a strong performer due to an upsized and accelerated share repurchase program announced by the company. Also supportive were end-market comments from Micron (MU) , as well as Jabil’s (JBL) outlook, which we discuss here.
Today, Bank of America lifted its MRVL price target to $90 from $78, given “improved visibility for calendar year 2026 in the data center” and prospects for higher buyback activity. We doubt BofA will be the only firm to nudge its MRVL target higher.
For now, we will stick with our $115 target, but as we get upcoming monthly revenue reports from Taiwan Semiconductor (TSM) and Foxconn, as well as other relevant data points, we’ll review it as needed.
At the time of publication, TheStreet Pro Portfolio was long MRVL.
