Roth Capital lowered the firm’s price target on Credo Technology (CRDO) to $200 from $250 and keeps a Buy rating on the shares. The company’s above-consensus preliminary guidance is driven by increasing benefit from increasing unit demand and average sales price uplift from newer, longer-reach rack-to-rack AEC cabling, though the firm’s price target cut is due to broader sector share moves, the analyst tells investors in a research note.
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Read More on CRDO:
- Closing Bell Movers: Upwork down over 20% on soft guidance
- Credo Technology reports preliminary Q3 revenue $404M-$408M, consensus $342.33M
- Credo sees sequential revenue growth for end-FY26 into FY27 in mid-single digits
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