Credo Technology price target lowered to $75 from $83 at BofA

BofA lowered the firm’s price target on Credo Technology (CRDO) to $75 from $83 and keeps a Buy rating on the shares following what the firm calls “another solid beat and raise” report. Following the quarterly report, the firm is raising FY26 and FY27 EPS estimate by 4% and 2%, respectively, but lowering its price target to reflect recent sector multiple compression, the analyst tells investors.