On Dec 04, major Wall Street analysts update their ratings for $Credo Technology (CRDO.US)$, with price targets ranging from $70 to $80.
BofA Securities analyst Vivek Arya upgrades to a buy rating, and adjusts the target price from $27 to $80.
Barclays analyst Thomas O'Malley maintains with a buy rating, and adjusts the target price from $32 to $80.
TD Cowen analyst Joshua Buchalter maintains with a buy rating, and adjusts the target price from $40 to $75.
Needham analyst Quinn Bolton maintains with a buy rating, and adjusts the target price from $33 to $70.
Furthermore, according to the comprehensive report, the opinions of $Credo Technology (CRDO.US)$'s main analysts recently are as follows:
The firm indicates that robust demand for Active Electrical Cables is leading to a significant upward revision in projections for fiscal years 2025 and 2026. It is noted that a turning point for Active Electrical Cables has now been reached.
Credo Technology's strong performance in Q2, surpassing earnings expectations, and providing a Q3 revenue outlook that also exceeded estimates are highlight worthy. Notably, the shipments of active electrical cabling (AEC) have escalated beyond prior anticipations. Over a longer horizon, the growth in AEC offerings is anticipated to be fueled by increased attach rates and the shift towards higher speed AECs.
Credo Technology's notable performance in the October quarter, coupled with a substantially improved outlook for the January quarter, showcases the hyperscalers' distinct preference for Credo's comprehensive cable solution. This positions the company to sustain its leadership in the AEC market over the upcoming period.
Here are the latest investment ratings and price targets for $Credo Technology (CRDO.US)$ from 4 analysts:
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