TD Cowen Raises Marvell Price Target to $90

TD Cowen analyst Joshua Buchalter raised the price target on Marvell Technology (NASDAQ: MRVL) to $90.00 (from $85.00) while maintaining a Hold rating.

“Very Strong Networking Outlook Drives Meaningful F2027 And F2028 Raise; Solid print, solid guide, and very confident tone/guide for F2027 and F2028 should drive meaningful upside to numbers.

Electro-optics continues to be an area of strength, as does XPU attach.

While custom XPU upside has been more modest, it’s being overshadowed in the numbers, and maybe the narrative, by very strong trends in broader networking. We remained balanced. Estimates up.

Hold, PT to $90.”

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