TD Cowen increased its price target for Marvell Technology (MRVL) to $225. The previous target was $200.
The firm cited Marvell's strong position in optical digital signal processors (DSPs) and connectivity solutions. Marvell's market share in optical DSPs has not declined as quickly as previously expected.
TD Cowen attributes its positive outlook to Marvell's robust networking and connectivity portfolio. The firm highlighted Marvell's strength in ZR and ZR+ coherent pluggable modules.
TD Cowen also observed favorable trends across the broader optical value chain during the current earnings season. These trends reinforce the firm's confidence in Marvell's prospects.