RBC Capital Raises Marvell Price Target to $115
RBC Capital analyst Srini Pajjuri raised the price target on Marvell Technology (NASDAQ: MRVL) to $115.00 (from $105.00) while maintaining an Outperform rating.
“MRVL’s results/outlook were better than our recent expectations. Management now sees y/y growth accelerating through FY27, and is projecting 33%/37% growth in FY27/FY28 vs our 22%/33% expectation.
Optical momentum remains strong and should sustain through the year on 800G demand and 1.6T/ZR+ upgrade cycles.
While skepticism about MRVL’s XPU opportunity could continue, management sounded confident about custom business doubling in FY28 (driven by AWS/MSFT).
MRVL also has a diverse pipeline of new products including scale-up switches, co-packaged optics, and XPU-attached solutions, each representing multi-billion dollar SAM.
At 23x CY26 EPS, we believe risk/ reward is attractive. Reiterate Outperform.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
