TD Cowen raised the firm’s price target on Credo Technology to $40 from $35 and keeps a Buy rating on the shares. The firm met with management which reinforced their thesis and conviction in naming Credo as their 2024 Best Smidcap pick. Discussion focused on the company’s differentiated low-power product portfolio, including in-house SERDES IP, and growth catalysts in Ethernet, PCIe (parallels NVLink) and USB-C connectivity.
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