Marvell price target raised to $135 from $120 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Marvell (MRVL) to $135 from $120 and keeps an Overweight rating on the shares. Marvell delivered a double digit EPS beat for the January quarter guide after three years of modest beats or worse, and management discussed expectations for substantial momentum to continue into FY26 led by the current AI Supercycle in the Data Center coupled with a cyclical recovery elsewhere, the analyst tells investors in a research note. Cantor continues to see AI revenues tracking to $1.8B-$2B for FY25 and $5B in FY26.