Marvell Extends Rally with 32.5% Surge, Stifel Lifts Target to $321
MRVL•Marvell shares soared 32.5% on June 2 and added another 13% premarket June 3 after Nvidia CEO Jensen Huang called Marvell the next trillion-dollar company. Stifel raised its 12-month target to $321 from $230 and reiterated its Buy rating, citing a 55x CY27 P/E multiple and robust AI/data center positioning.
1. Historic Share Surge
Marvell shares jumped 32.5% on June 2—the company's largest single-day gain—then gained an additional 13% in premarket trading June 3 after Nvidia CEO Jensen Huang called Marvell the next trillion-dollar company.
2. Stifel Target Increase
Stifel analyst Tore Svanberg raised the 12-month price target to $321 from $230 and maintained a Buy rating, applying a 55x CY27 price-to-earnings multiple to reflect growing confidence in Marvell's AI/data center positioning.
3. AI Infrastructure Role
Management highlighted Marvell’s networking and connectivity products as critical to large-scale AI deployments, reinforcing the firm's thesis on the company’s role in the AI supercycle during a Computex keynote.
