Credo Technology initiated with a Neutral at Rosenblatt

Rosenblatt initiated coverage of Credo Technology (CRDO) with a Neutral rating and $170 price target The firm sees the company’s revenue nearly tripling and earnings to more than quadrupling in fiscal 2026. The near-term strength is driven by Credo’s technology stack, first-mover advantage in 400G and 800G, and success in the up to 7-meter AI data center scale-out and scale-up connectivity markets, the analyst tells investors in a research note. However, Rosenblatt says “additional competition is imminent.”