Morgan Stanley raises Marvell price target ahead of Oct 6 investor day
Marvell shares rose 2.9% to $251.20 premarket. Morgan Stanley lifted its price target to $268 from $246, implying 9.7% upside to MRVL’s last close. The broker said Google custom silicon and scale-up are biggest upside drivers and expects FY2030 revenue at $40 billion-plus, while assuming Google uses roughly 70% of $120 billion of cumulative revenue through FY33. LSEG data show 44 analysts rate the stock “buy,” with a median PT of $280.
20 in premarket trading. 7% upside to MRVL’s last close. The brokerage said it expects the company to frame FY2030 revenue at $40bn+, with Google custom silicon and scale-up as the biggest sources of upside. It added that its base case assumes Google ultimately uses about 70% of the $120 bln of cumulative revenue through FY33.
LSEG data showed the average rating of 44 analysts is "buy" and their median price target is $280. Up to the last close, the stock had nearly tripled YTD.