TD Cowen Raises Marvell Price Target to $225

TD Cowen analyst Joshua Buchalter raised the price target on Marvell (NASDAQ: MRVL) to $225 (from $200) while maintaining a rating.

“Positive on Marvell given its leading position in optical DSPs (that has not eroded at anywhere near the pace we had feared) and other connectivity technologies (including ZR/ZR+ coherent pluggable modules), as we have observed similar upside drivers this earnings season from much of the optical value chain.

While we continue to struggle with visibility on the company’s marquee ASIC programs, we think this dynamic is unlikely to be impactful in either direction this quarter and view the set-up favorably driven solely by the company’s strong networking and connectivity portfolio.”

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