Marvell's Interconnect, Custom Progress Hitting Stride, RBC Says
MT newswire2026/10/07 15:0311:03 AM EDT, 10/07/2026 (MT Newswires) -- Marvell Technology (MRVL) showed its interconnect and custom silicon leadership at its investor day event, pointing to significant revenue growth prospects, RBC said in a Tuesday note. The note said key surprises from the event were over $30 EPS power in fiscal 2031, exceeding RBC expectation of $15 to $20 expectation, and fiscal 2028 revenue guidance of $20 billion, against $18 billion previously, also better than RBC forecast. The report said the company indicated that projections are grounded in existing business, leaving room for upside. "We came away impressed with the diversity and scale of MRVL's AI infrastructure opportunities and view growth targets as achievable," the note said. RBC reiterated its outperform rating on the stock and raised its price target to $425 from $360. Price: 283.27, Change: -3.75, Percent Change: -1.30
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