Marvell price target raised to $115 from $95 at Oppenheimer

Oppenheimer raised the firm’s price target on Marvell (MRVL) to $115 from $95 and keeps an Outperform rating on the shares. The firm hosted investor meetings this week with Marvell CFO Willem Meintjes and SVP IR Ashish Saran. Tone was notably confident as management outlined gen-gen custom AI ASIC project continuity and sustained networking outperformance. All segments are expected to grow 10%-plus in 2026 as CSP/hyperscalers deploy AI infrastructure and cyclical verticals inflect. Oppenheimer looks for Marvell to leverage Teralynx low latency tech to win in the emerging scale up switching opportunity, which could eventually rival scale out switch TAM.