BofA analyst Vivek Arya raised the firm’s price target on Credo Technology (CRDO) to $90 from $50 and keeps a Buy rating on the shares. The firm notes the company’s Q4 delivered sizable topline beat/raise with $170M sales attributed to broad-based AEC strength with three hyperscalers greater than 10% of sales in the quarter, with two more slated to ramp in fiscal the second half of 2026. The July quarter guidance is positive as well, with the company guiding to $190M at the midpoint and with gross margins guided to 65% midpoint, remaining at the high end of the long-term model, BofA adds.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published 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 $85 from $50 at TD Cowen
- Credo Technology price target raised to $90 from $60 at Susquehanna
- Credo Technology price target raised to $80 from $69 at Stifel
- Strong Growth Prospects and Strategic Wins Drive Buy Rating for Credo Technology Group
- Credo Technology price target raised to $85 from $70 at Barclays
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue