TD Cowen raised the firm’s price target on Credo Technology (CRDO) to $95 from $85 and keeps a Buy rating on the shares. The firm again named Credo its “best Smid-cap idea” for 2025. Despite the company’s “significant progress” to date, there’s “plenty more runway” to Credo’s story tied to high-speed connectivity for datacenter artificial intelligence, the analyst tells investors in a research note. TD views the company’s growth story as “early, open-ended, and diversifying.” Credo’s intellectual property in low-power, high-speed connectivity addresses a “rapidly” growing market opportunity as AI proliferates and drives ever-faster line-rate speeds in both back- and front-end networks, the analyst tells investors in a research note.
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