Stifel analyst Tore Svanberg reiterated a Buy rating and $200.00 price target on Credo Technology Group Holding Ltd. (NASDAQ: CRDO).

The analyst commented, "We believe Credo’s system level integration enables its lead in the AEC market, with demand indicating future deployments could grow beyond traditional sockets. While we view CRDO’s stock as being currently impacted by the optical vs copper narrative, we believe CRDO should trade at a premium multiple given its system level approach to interconnects, which includes both copper and optical. We also note that this system level approach is very unique in the market with many competitors focused on components or sub-systems."

For an analyst ratings summary and ratings history on Credo Technology Group Holding Ltd. click here. For more ratings news on Credo Technology Group Holding Ltd. click here.

Shares of Credo Technology Group Holding Ltd. closed at $112.33 yesterday.