Today: Jul 20, 2024

Roth/MKM boosts Credo Technology to $30 PT on growth momentum.

5 months ago

TLDR:

  • Roth/MKM raises Credo Technology stock PT to $30 on growth momentum
  • Credo Technology’s positive growth prospects and recovery in AEC growth are key factors

On Wednesday, Roth/MKM increased their price target for Credo Technology Group Holding Ltd. from $24 to $30, citing the company’s growth momentum. The positive movement in various product families, recovery in AEC growth, and anticipation of increased demand in the future have contributed to the firm’s optimistic outlook. The strategic positioning of Credo Technology and the expected benefits from AI infrastructure investments have been highlighted as drivers for its projected growth. The reaffirmation of the Buy rating reflects the firm’s confidence in Credo Technology’s upward trajectory.

InvestingPro Insights reveal that Credo Technology has experienced significant stock price growth, despite facing challenges, and holds a market capitalization of $3.51 billion. The company’s financial health is robust, with more cash than debt on its balance sheet, and analysts predict profitability for the year. Additional insights on Credo Technology’s performance and market expectations are available on InvestingPro.

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