Marvell (MRVL) PT Raised to $120 at Rosenblatt

Rosenblatt analyst Hans Mosesmann raised the price target on Marvell (NASDAQ: MRVL) to $120.00 (from $95.00) while maintaining a Buy rating.

The analyst comments "Marvell delivered the expected slight beat-n-raise earnings report but it was management's discussion around growth drivers in FY27 and FY28 that gives us increasing confidence in the road map to growth through 2030. Also, we have been impressed with Celestial AI's optical technology. We view Marvell's intended acquisition of Celestial AI has a strategic component to many product developments in multiple end markets. We are lifting our estimates and 12-month price target to $120."

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