Raymond James Reiterates Strong Buy on Marvell, $295 Price Target
- Rating
- Buy
- Price target
- $295
- Implied upside
- +9%
- vs $271.25 prior close
Raymond James analyst Simon Leopold reiterated a Strong Buy rating and $295 price target on Marvell (NASDAQ: MRVL).
“Strong Buy rated Marvell substantially raises the ceiling on its AI opportunity.
At today’s Investor Day, management raised its FY28 revenue outlook to $20B, ~10% above our $18.2B estimate, and introduced an extraordinary $70–90B FY31 (CY30) revenue framework with $30+ in EPS, versus consensus of ~$47B and ~$19, respectively.
Importantly, the opportunity extends well beyond Custom: at the FY31 midpoint, Marvell sees ~$37.5B of Interconnect, $30B of Custom, $10B of Switching/Storage, and $2.4B of Communications & Other.
Custom revenue is now targeted at $12B+ in FY29, at least 30% above our ~$9.1B estimate.
The numbers reinforce our view that scale-up connectivity and optics may prove at least as important to the long-term story as custom compute.”
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Tracking this call
Since this note+6% MRVL $271.25 → $287.01 (Oct 7) · 66% of the way to the target
This callScored on Apr 7, 2027, six months after the note: did MRVL reach $295?
Firm track recordRaymond James reached 64% of its 11 scored targets within six months (#19 of 31 firms). Accuracy ranking →
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