Credo Technology shares rise on analyst support and conference comments

Credo Technology Group Inc shares climbed 6.0% in morning trading on Monday, reaching $186.49, as the company presented its optical connectivity technology at a European conference and received multiple positive analyst actions.

The stock movement came as Credo participated in ECOC 2026, an optical networking conference taking place September 21-23 in Málaga, Spain. The company is displaying its 1.6T optical connectivity solutions designed for AI scale-out infrastructure at the event.

Mizuho maintained its Outperform rating on the stock while adjusting its price target to $245 from $290 to reflect lower peer group multiples. The firm's channel checks following the company's earnings indicated strong Amazon Trn3 ramps expected in 2027 and growing engagement with Microsoft, Meta, and Oracle.

Rosenblatt raised its price target on Credo to $235 from $215. A new Buy rating was also issued for the stock on Monday.

An analyst piece published Monday highlighted that Credo trades approximately 43% below its 52-week high while reporting 115% revenue growth. The Wall Street consensus price target suggests about 61% upside from current levels.

The conference appearance focuses on Credo's shift from copper-based active electrical cables toward a vertically integrated optical platform.

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