Jefferies lifts Marvell target to $450 after fiscal 2031 revenue outlook
AI Market Summary
Marvell shares rose after Investor Day long-term revenue targets led multiple banks to raise price targets and reiterate Buy ratings. Analysts highlighted accelerating AI-infrastructure demand, with upside tied to interconnect, optical, and custom silicon for AI inference, while perceived program risks have eased. Near-term focus shifts to execution, supply availability, and whether hyperscalers sustain elevated AI capex, which could amplify volatility around guidance and milestones.
Impact level
● Medium
Affected assets
NCSKMRVL2USD/USDT-0.52%
AI Insight · NCSKMRVL2USD/USDTAI Insight
▲ Bullish
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Marvell shares rose 5.8% on October 6 after the company laid out long-term revenue expectations at its Investor Day. Jefferies analyst Blayne Curtis raised his price target to $450 from $325 and reiterated a Buy rating. He pointed to growth potential in Marvell’s interconnect business and custom chips, particularly tied to AI inference.
