Wall Street Raises Marvell Price Targets as AI Data‑Center Bookings Gain Steam

Overview

• KeyBanc, which raised its price target on June 18, boosted the target to $385 and kept an Overweight rating after investor meetings that highlighted silicon photonics and the Celestial AI deal.
• Other firms including B. Riley and Oppenheimer raised targets and kept positive ratings after Marvell reported stronger‑than‑expected first‑quarter results and firmer guidance, with B. Riley moving to $345 and Oppenheimer to $250.
• The stock has re‑rated sharply, climbing roughly 50% in June as of June 18, and options activity points to elevated short‑term volatility as investors price in faster AI infrastructure demand.
• Analysts and commentators warn the rally carries risks because Marvell trades at a high forward multiple, short sellers have flagged valuation concerns, and the company must convert large bookings into booked revenue on schedule.
• Management and analysts project multi‑year upside for earnings with EPS targets above $6 in fiscal 2028, and they point to strategic moves and partnerships that could expand Marvell’s role in data‑center networking.