KeyBanc Boosts Marvell Price Target to $385 as Shares Jump 14%
MRVL•KeyBanc lifted its price target on Marvell Technology to $385 from $260, citing stronger AI infrastructure positioning and data center networking prospects following recent investor meetings. Marvell’s stock surged nearly 14% intraday and remains supported by its planned Celestial AI acquisition and AI networking growth outlook.
1. Price Target Raise and Share Movement
KeyBanc retained an Overweight rating on Marvell Technology and raised its price target to $385 from $260, implying roughly 26% upside. Shares rallied almost 14% during the session, finished 7.27% higher, and added 0.5% in after-hours trading as investors responded to the upgrade.
2. AI Infrastructure and Networking Outlook
Analysts cited insights from recent investor meetings that reinforced Marvell’s positioning in AI infrastructure and data center networking, which is expected to gain importance amid structural shifts in data center design. Networking solutions are viewed as a more durable growth driver compared to custom XPUs, with potential visibility toward $10 billion in related revenue by fiscal 2029.
3. Bull Case Fueled by Celestial AI Acquisition
Marvell’s planned acquisition of Celestial AI, known for its photonic fabric technology linking processors and memory with light, is seen as a long-term differentiator in high-performance computing. KeyBanc’s bull scenario, which targets $450 per share, hinges on stronger custom silicon ramps, increased AI-driven networking demand and rapid, efficient integration of new assets.
