Jefferies initiated coverage of Credo Technology (CRDO) with a Buy rating and $175 price target Credo offers a “meaningful opportunity to invest in a premium growth name at significantly discounted valuation,” the analyst tells investors in a research note. The firm sees a “significant disconnect” between the market’s perception of Credo’s AI opportunity over the next several years relative to its actual opportunity. Jefferies believes active electrical cables have a “clear runway for continued growth” through AI and general-purpose compute workloads.
Claim 55% Off TipRanks
Trade CRDO with leveragePublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRDO:
- Chewy, Sunrun, Ulta, Credo, Serve: Insider Sell-Offs
- 3 Off-the-Radar Data Center Stocks in Spotlight as Magnificent 7 Loses Sparkle
- Credo, TE Connectivity reach settlement in active electrical cable disputes
- Credo, Molex reach settlement in active electrical cable patent dispute
- Credo Technology Soars on Record Earnings and Growth