BofA analyst Vivek Arya raised the firm’s price target on Credo Technology to $16 from $14 and keeps an Underperform rating on the shares. Following the company’s fiscal Q1 report, the firm is raising its calendar year 2024 and 2025 sales estimates 2% and 6%, respectively, and raised its multiple to reflect growth reacceleration, though notes its “still in line with peers.”
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Read More on CRDO:
- Credo Technology Group Holding Ltd Reports First Quarter of Fiscal Year 2024 Financial Results
- Credo Technology sees Q2 revenue $42M-$44M, consensus $40.32M
- Credo Technology reports Q1 EPS (3c), consensus (3c)
- Notable companies reporting after market close
- Credo Technology Group options imply 12.1% move in share price post-earnings