Marvell stock falls 1.5% after analyst price-target barrage on long-term AI growth targets

Marvell Technology shares slipped 1.5% Wednesday to $282.73, paring Tuesday's 5.8% jump after the company unveiled aggressive five-year revenue and earnings targets at an investor day. At least 18 analysts raised price targets, with StoneX and Oppenheimer boosting their views to $375 and $425 respectively. The company expects revenue to grow 55-60% annually through fiscal 2031, reaching $70-90 billion, with adjusted EPS above $30. Shares are up 238% year-to-date on AI demand.