Marvell Technology (MRVL) showed "unequivocally" bullish tone at its investor day event, materially raising financial targets through 2030, Oppenheimer said in a Wednesday note.

The company expects 2030 sales of $80 billion and EPS of $30 at the mid-point. It now expects 2027 sales to be $20 billion, up from $18 billion in August, according to the note.

Interconnect is poised to grow 65%, the note said, adding that its Switching and Storage product lines are estimated to grow 45% annually through 2030.

"We see MRVL's structural growth story accelerating into next year and remain long-term buyers," the note said. Oppenheimer kept its outperform rating with a $425 price target.

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