Citi analyst Atif Malik maintained a Buy rating on Marvell today and set a price target of $114.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Atif Malik has given his Buy rating due to a combination of factors that suggest a positive outlook for Marvell’s future performance. One of the primary reasons is the anticipated acceleration in year-over-year sales growth in 2026 and 2027, driven by increasing demand in AI data centers. Marvell’s guidance indicates a significant growth in sales for fiscal years 2027 and 2028, with expectations of approximately 20% and 30% growth respectively, fueled by multiple demand drivers in the data center AI sector.
Additionally, the acquisition of Celestial AI is seen as a strategic move that could enhance Marvell’s capabilities and market position. Malik has adjusted the earnings per share (EPS) estimates for fiscal years 2026, 2027, and 2028 to reflect a more optimistic outlook, with figures set at $2.84, $3.56, and $4.99 respectively. The target price of $114 is based on a 26 times price-to-earnings ratio on the estimated EPS for calendar year 2027, reflecting growing confidence and visibility in Marvell’s data center sales.
Malik covers the Technology sector, focusing on stocks such as Nvidia, Marvell, and Lam Research. According to TipRanks, Malik has an average return of 32.9% and a 72.92% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $113.00 price target.