Credo Technology price target raised to $27 from $25 at BofA

BofA raised the firm’s price target on Credo Technology to $27 from $25 and keeps an Underperform rating on the shares following what the firm calls an “in-line FQ1 and modest FQ2 top-line beat.” While highlighting that a growth inflection is nearing, the firm adds that pushout risks remain given questions around AI deployment/capex and contends that Credo’s valuation “leaves little room for error.”