Marvell shares climbed 6.5% premarket after HSBC upgraded to Buy and set a $300 price target on strong AI networking prospects. Morgan Stanley and Susquehanna also raised targets to $172 and $230 as Marvell guides Q1 revenue at $2.4 billion and $0.79 EPS.
HSBC elevated Marvell to a Buy rating and raised its price target to $300, highlighting undervalued optical interconnect and CXL revenue opportunities. The announcement triggered a 6.5% premarket surge, extending the stock’s rebound since late March.
Morgan Stanley lifted its price target to $172 from $103 and maintained an Equal Weight rating, citing a beat-and-raise quarter potential despite valuation concerns. Susquehanna increased its target to $230 from $100, pointing to stronger data center revenue driven by AI interconnect demand.
Marvell forecasts first-quarter revenue of $2.4 billion and adjusted EPS of $0.79, reflecting contributions from Celestial AI and XConn acquisitions. These figures compare to consensus estimates and set the stage for the company’s upcoming earnings release.
Demand for high-speed data center networking chips and CXL-enabled ASICs underpins Marvell’s outlook, with optical interconnect strength cited as a key growth driver. Recent acquisitions of Celestial AI and XConn Technologies are expected to expand Marvell’s AI networking capabilities and revenue streams.
Finance
