Goldman Sachs analyst James Schneider raised the firm’s price target on Credo Technology (CRDO) to $170 from $150 and keeps a Buy rating on the shares. Credo’s acquisition of DustPhotonics is expected to accelerate its expansion into optical networking and strengthen confidence in its diversification beyond copper-based AECs, with improved visibility toward its $500M optical revenue target by FY27, the analyst tells investors in a research note.
Claim 55% Off TipRanks
New trading tool for CRDO bullsPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRDO:
- Credo Technology price target raised to $210 from $160 at BofA
- Credo Technology price target raised to $175 from $125 at Rosenblatt
- Credo Technology: DustPhotonics Acquisition and Optical Growth Outlook Support Continued Buy Rating and $220 Target
- Credo Technology rises 18.4%
- Credo Technology rises 13.1%