-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We up our 12-month target to $150 from $120, on a P/E of 28.7x our CY 2027 EPS of $5.23, within peers but below historical. Our higher target reflects greater conviction and upside potential following the NVIDIA investment as well as view that recent deals will accelerate/better position MRVL to scale up AI initiatives. We are especially excited about the integration of Celestial AI's photonic fabric technology with MRVL's switching portfolio, which creates an end-to-end optical scale-up platform. Celestial AI's CPO revenue alone is projected to reach $500M ARR by end-CY 2027 and double again a year later to over $1B. The NVIDIA partnership centers on the NVLink Fusion Platform, where MRVL will provide its custom XPUs, NVLink Fusion-compatible scale-up networking, and silicon photonics technology. MRVL's custom silicon business is also evolving from a single-program concentration (Amazon) to a diversified portfolio, including a new Tier 1 XPU in FY 28 (Microsoft), with a line of sight to over $2B by FY 29.