Evercore ISI raises Marvell price target to $433 after Investor Day

Evercore ISI has raised its price target on Marvell Technology (MRVL) to $433, up from $155, and kept its Outperform rating on the stock. That something was Marvell’s Investor Day on October 6, 2026. Management used the event to rewrite its long-term revenue outlook, and the new numbers were large enough to send analysts back to their spreadsheets. What Marvell told investors The headline revision came in fiscal 2028. Marvell now expects revenue of approximately $20 billion that year, up from a previous target of $18 billion. That figure also came in ahead of broader market estimates. Then came the bigger swing. Marvell set a fiscal 2031 revenue goal of $70 billion to $90 billion. The driver, according to Marvell, is AI data center demand. The company pegs its AI total addressable market at approximately $400 billion by 2030. Marvell also pointed to momentum it can already show. Its data center revenue reportedly grew about 46% year-over-year in one of its recent quarters. Investors liked what they heard. Marvell shares jumped roughly 7% to 10% intraday after the announcements. Wall Street piles on Evercore ISI was not alone in raising the bar. HSBC lifted its price target on Marve...