tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Credo Technology price target raised to $150 from $85 at Needham

Needham raised the firm’s price target on Credo Technology (CRDO) to $150 from $85 and keeps a Buy rating on the shares. The company reported another healthy beat and raise for Q1, also guiding Q2 revenue $35M above the firm’s estimate amid strength across its top three customers and the ramp of AECs – Active Electrical Cables – at a fourth hyperscaler, the analyst tells investors in a research note. AEC expansion into scale-up networks should broaden the total addressable market for Credo, the firm added.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1