Needham analyst N. Quinn Bolton raised the firm’s price target on Credo Technology to $29 from $26 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings beat and above-consensus guide as its Active Electrical Cables, or AEC, revenue accelerated at the 2nd hyperscaler customer. Credo’s AEC business is strong on multiple fronts , including ramps, engagements, competition and increasing connections per GPU, the firm tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRDO:
- Credo Technology Group Holding Ltd. Earnings Report: Did it Beat Expectations?
- Credo Technology Group Holding Ltd. (CRDO) Q4 Earnings Cheat Sheet
- Credo Schedules Fourth Quarter and Fiscal Year 2024 Financial Results Conference Call
- Credo Technology price target raised to $30 from $28 at Craig-Hallum
- Credo Technology Welcomes New Director and Audit Member