Citi adds ‘upside 30-day catalyst watch’ on Marvell into CES

Citi added an “upside 30-day catalyst watch” on shares of Marvell (MRVL) Technology into the Consumer Electronics Show. Citi views the concerns around XPU competition at two hyperscale customers as “misguided” and sees the post-earnings selloff in the shares as a buying opportunity. Marvell will highlight the growing adoption of scale-up networking at CES, the analyst tells investors in a research note. After meeting with management, the firm has increased conviction that Marvell will see accelerating sales growth in 2026 and 2027, driven by artificial intelligence data centers. It keeps a Buy rating on the shares with a $114 price target