Credo Technology Group Holding Ltd. (CRDO) PT Raised to $35 at Roth/MKM

Roth/MKM analyst Suji Desilva raised the price target on Credo Technology Group Holding Ltd. (NASDAQ: CRDO) to $35.00 (from $30.00) while maintaining a Buy rating.

The analyst comments "CRDO reported results in line with consensus and guided revenue growth ahead of consensus on the back of growth across multiple customers and product categories. We believe that AI infrastructure-related spending represents a continued strong growth driver. With management guiding for multiple additional large customer ramps in the coming quarters, we believe CRDO is seeing strong revenue growth opportunity. We raise our price target from $30 to $35 and maintain our Buy rating."

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