TLDR
- Marvell Technology (MRVL) stock closed at $287.01, up 6% on the day.
- TD Cowen upgraded Marvell to Buy from Hold and raised its price target to $350 from $245.
- Marvell’s 2026 Investor Day outlined revenue of $70 billion to $90 billion by FY31.
- Jefferies, Evercore ISI and Raymond James all raised price targets following the event.
- MRVL carries a Strong Buy consensus rating with an average price target implying 9% upside.
Marvell Technology (MRVL) stock closed at $287.01 on Tuesday, up 6% on the day. The move followed a wave of analyst price target increases tied to the company’s Investor Day presentation.
Marvell Technology, Inc., MRVL
TD Cowen upgraded Marvell to Buy from Hold on Wednesday. The firm raised its price target to $350 from $245.
The upgrade comes a year after TD Cowen had downgraded the stock. Analyst Sean O’Loughlin said the firm had been wrong about share loss in Marvell’s connectivity business.
TD Cowen now believes growth drivers have shifted toward connectivity. The firm said margin risk tied to custom XPU programs has eased.
Marvell’s market capitalization stands at $251.69 billion. The stock has climbed 238% year-to-date.
Investor Day Sparks New Targets
Marvell held its 2026 Investor Day on October 6. The company laid out a long-term revenue framework running through fiscal 2031.
Marvell projects annual revenue of $70 billion to $90 billion by FY31. Growth is expected to come from AI infrastructure, custom chips, connectivity and optical products.
For FY28, Marvell expects revenue near $20 billion. About $18 billion of that is projected to come from the data-center segment.
The company also outlined custom chip growth. FY29 custom revenue is projected to top $12 billion.
Jefferies analyst Blayne Curtis raised his price target to $450 from $325. He kept a Buy rating and pointed to connectivity as the center of Marvell’s growth story.
Curtis estimates interconnect revenue could reach $37.5 billion at the midpoint of the FY31 guidance. He also sees custom revenue nearing $30 billion by that year.
Other Analysts Weigh In
Evercore ISI analyst Mark Lipacis lifted his price target to $433 from $275. He cited Marvell’s intellectual property portfolio and flexible business model.
Raymond James analyst Simon Leopold called the FY31 outlook extraordinary. He kept a Strong Buy rating and a $295 price target.
Leopold noted that execution and supply availability will matter going forward. He also flagged cloud spending on AI as a factor to watch.
TD Cowen projects Marvell could generate more than $30 in earnings per share within three years. That estimate is tied to the company’s diversified growth outlook.
On TipRanks, MRVL carries a Strong Buy consensus rating. The rating is based on 26 Buy calls and four Hold calls.
The average analyst price target sits at $313.84. That implies about 9% upside from current levels.
In premarket trading Wednesday, Marvell stock slipped to $282.29. That marked a decline of about 2% from the prior close.
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