Street View: Wall Street warms to Marvell as AI growth drivers multiply

Marvell Technology

07/10/2026 11:27

** Marvell Technology MRVL.O raised its fiscal 2028 revenue forecast to about $20 billion on Tuesday, above Wall Street estimates, as demand for its custom data center chips grows along with surge in AI spending
** At least 11 analysts raised PT; median PT of 45 brokerages covering stock is $325 - LSEG-compiled data 

FIRING ON ALL CYLINDERS

** Morgan Stanley ("equal-weight," PT: $300) says co's long-term target is achievable in potential $3-trillion AI infrastructure spending environment, but cautioned that expectations for 55%-70% growth leaves little room for execution missteps, setting high bar for quarterly performance 
** J.P. Morgan ("overweight," PT: $360) says, "company is firing on all cylinders, with upward revisions not isolated to one product category or one customer but instead supported by multiple growth vectors across the data center stack"
** TD Cowen ("buy," PT: $350) says Marvell's fundamental growth catalysts have fully shifted to its strong connectivity franchise and risks tied to its custom XPU programs have largely eased  
** Melius Research ("buy," PT: $445) sees credible path to $1-trillion market cap if Marvell executes on its plan

 (Reporting by Kanchana Chakravarty in Bengaluru)
 ((Kanchana.Chakravarty@thomsonreuters.com))