In a report released today, Joshua Buchalter from TD Cowen maintained a Buy rating on Credo Technology Group Holding Ltd, with a price target of $170.00.
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Joshua Buchalter has given his Buy rating due to a combination of factors, including the strong growth potential of Credo Technology Group Holding Ltd. The decision to maintain a Buy rating is supported by the company’s strategic positioning in the datacenter connectivity sector, which is expected to experience significant expansion in the coming years.
Furthermore, the increase in the price target to $170 reflects confidence in Credo’s ability to capitalize on future sales growth, as evidenced by the projected EV of approximately 25 times the estimated sales for fiscal year 2027. This optimistic outlook is further detailed in the accompanying industry analysis report, which highlights the promising trends and opportunities within the datacenter connectivity market.
Buchalter covers the Technology sector, focusing on stocks such as Marvell, Credo Technology Group Holding Ltd, and Advanced Micro Devices. According to TipRanks, Buchalter has an average return of 12.2% and a 58.29% success rate on recommended stocks.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $170.00 price target.