Morgan Stanley lifts Marvell PT ahead of investor day

Marvell Technology

21/09/2026 13:12

** Marvell Technology's MRVL.O shares rise 2.9% to $251.20 premarket
** Ahead of the chip firm's investor day on October 6, Morgan Stanley raises PT to $268 from $246, implying a 9.7% upside to MRVL's last close
** Brokerage expects co "to frame FY2030 revenue at $40bn+, with Google GOOGL.O custom silicon and scale-up as the biggest sources of upside"
** "Our base case assumes Google ultimately utilizes roughly 70% of the $120 bln of cumulative revenue through FY33" - Morgan Stanley
** Average rating of 44 analysts is "buy;" their median PT is $280 - data compiled by LSEG
** Up to last close, stock has nearly tripled YTD

 (Reporting by Anhata Rooprai in Bengaluru)
 ((Anhata.Rooprai@thomsonreuters.com))