Roth MKM raised the firm’s price target on Credo Technology to $35 from $30 and keeps a Buy rating on the shares. The company reported results in line with consensus but guided revenue growth ahead of consensus on the back of growth across multiple customers and product categories, with AI infrastructure-related spending serving as a continued strong growth driver for Credo, the analyst tells investors in a research note. With the management guiding for multiple additional large customer ramps in the coming quarters, the company is seeing strong revenue growth opportunity, the firm added.
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