Stifel Raises Marvell Price Target to $120
Stifel analyst Tore Svanberg raised the price target on Marvell Technology (NASDAQ: MRVL) to $120.00 (from $114.00) while maintaining a Buy rating.
“Slight Jan Q beat with revenue of $2.22bn (+7.0% q/q) coming in +0.8% vs. our $2.20bn estimate, driven by strong demand across the Data Center segment (+9% q/q), while Communications & Other grew +2% q/q.
Raised Apr Q outlook, with $2.40bn revenue midpoint (+8.2% q/ q) +4.9% vs. our prior $2.29bn estimate, with anticipated Data Center growth expected to continue leading the way.
We believe today’s print provides validation of Marvell’s execution and investments, supported by its meaningfully higher guide for FY27/28E.
We believe the business is clearly inflecting, providing meaningful validation of Marvell’s execution considering the heightened investor debate surrounding the stock in recent months.
We reiterate our Buy rating with a raised 12-month Target Price of $120 (from $114), representing a 22.4x CY27E P/E multiple.”
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.
