Roth Capital raised the firm’s price target on Credo Technology (CRDO) to $250 from $170 and keeps a Buy rating on the shares. The company’s fiscal Q2 results and guidance were well ahead of consensus estimates, reflecting the diversifying of its active electrical cable program ramps across a broadening set of large hyperscale customers, the analyst tells investors in a research note. Roth believes Credo has “very strong growth” visibility in is “encouraged” by the broadening of its product portfolio offerings.
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