Susquehanna analyst Christopher Rolland has reiterated their bullish stance on CRDO stock, giving a Buy rating today.
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Christopher Rolland has given his Buy rating due to a combination of factors including Credo Technology Group Holding Ltd’s strong revenue growth and expansion in the AI interconnect market. The company has introduced new product categories such as transceivers, ALCs, and memory fanout for XPUs, which are expected to significantly broaden its market opportunities and contribute to its revenue growth.
Moreover, Credo’s partnerships with major hyperscaler customers like Amazon, Microsoft, xAI, and Meta have led to substantial revenue contributions, with expectations of continued growth through FY27. The company’s strategic initiatives, including the introduction of technologically advanced ALCs and the “Weaver” Omniconnect Gearbox, position it well for future success. These developments, along with a positive outlook on revenue and market expansion, underpin Rolland’s Buy rating and the increased price target from $175 to $230.
In another report released today, KGI Securities also upgraded the stock to a Buy with a $230.00 price target.
Based on the recent corporate insider activity of 153 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRDO in relation to earlier this year.