Marvell Technology (MRVL) shares climbed more than 6% during Tuesday's trading session. Susquehanna Financial Group raised its price target on the semiconductor firm to $265 from $230 while maintaining a Positive rating.
The price target hike comes before Marvell's second-quarter earnings report on Thursday. Susquehanna anticipates better-than-expected results and guidance fueled by the company's AI networking business.
Other analysts also increased their valuations for the chipmaker. Rosenblatt Securities raised its target to $300 from $240, pointing to growth in optical interconnects and custom silicon.