Barclays analyst Tom O’Malley raised the firm’s price target on Credo Technology (CRDO) to $80 from $32 and keeps an Overweight rating on the shares. The firm says strong Active Electrical Cable demand is driving a material upward revision to fiscal 2025 and 2026 numbers. An AEC inflection has finally been reached, the analyst 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:
- BofA double upgrades Credo Technology to Buy on growth inflection
- Credo Technology upgraded to Buy from Underperform at BofA
- Credo Technology Group Holding Ltd. Reported Earnings. Did it Beat Estimates?
- Credo Technology Reports Strong Q2 Financial Performance
- Closing Bell Movers: Zscaler down 8% despite earnings beat