Credo Technology price target raised to $175 from $125 at Rosenblatt

Rosenblatt analyst Mike Genovese raised the firm’s price target on Credo Technology (CRDO) to $175 from $125 and keeps a Neutral rating on the shares. The market is excited by Credo’s accelerated move into Optical, and is “willing to pay a premium for the story for now,” says the analyst, who also notes that Credo raised FY27 revenue growth to 75% or greater from 50%-plus. However, while “this looks good on the surface,” higher Optical numbers may actually be masking a decline in AEC expectations, adds the analyst, who views ZF Optics as “a niche transceiver product.”

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