BofA raised the firm’s price target on Credo Technology (CRDO) to $240 from $165 and keeps a Buy rating on the shares. New customer adoption and ramp and long-term product diversification remain key to Credo’s sales outlook, which both continue to execute strongly, the analyst tells investors in a research note. The firm thinks Credo could see roughly $10-$11 in EPS power at 45% net margin, conceptually.
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