Evercore ISI raised its price target on Marvell Technology to $433, up from $155, while maintaining its Outperform rating. The firm cited Marvell’s updated long-term revenue guidance presented at its Investor Day on October 6, 2026. The company now forecasts approximately $20 billion in revenue for fiscal 2028 and $70 billion to $90 billion for fiscal 2031, driven by AI data center demand. Marvell estimates its total addressable market in AI at roughly $400 billion by 2030. Shares jumped 7% to 10% intraday following the announcements.
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