Credo Technology price target raised to $120 from $100 at BofA

BofA raised the firm’s price target on Credo Technology (CRDO) to $120 from $100 and keeps a Buy rating on the shares after hosting management on an investor call. BofA now sees a higher EPS power of roughly $3 by CY27 and more than $7 over time on an increased Architecture, Engineering, and Construction total addressable market outlook, well above Street’s $2.11 for CY27, the analyst tells investors in a research note.