Citigroup Maintains Buy on Marvell Tech, Raises Price Target to $75
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Atif Malik has reaffirmed a Buy rating on Marvell Technology (NASDAQ:MRVL) and increased the price target from $61 to $75.
January 12, 2024 | 8:18 pm
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Citigroup has maintained a Buy rating on Marvell Technology and raised the price target to $75, indicating a positive outlook on the stock.
The increase in price target by a reputable analyst like Atif Malik suggests a strong conviction in Marvell Technology's future performance. This typically instills confidence in investors and can lead to a short-term increase in the stock price as market participants react to the positive analyst coverage.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100