Rosenblatt raised its price target on Marvell Technology (MRVL) to $240 from an undisclosed prior level, maintaining a Buy rating.
The firm boosted its calendar 2027 revenue estimate to $16.5 billion and EPS to $6.00, above consensus of $15.2 billion and $5.60.
The stock has surged 208% over the past year. Marvell boasts a perfect Piotroski Score of 9, signaling strong fundamentals despite a high P/E ratio.
The new $240 target is based on 40 times the firm's $6.00 2027 EPS estimate.
In recent news, Marvell's April quarter revenue hit $2.42 billion. Analysts at Raymond James, Barclays, Stifel, and Goldman Sachs have all raised targets.
