Credo Technology price target raised to $45 from $35 at Roth MKM

Roth MKM analyst Suji Desilva raised the firm’s price target on Credo Technology (CRDO) to $45 from $35 and keeps a Buy rating on the shares after meeting with its management at the OCP Summit to discuss the AI connectivity and component growth in support of increasingly large and complex Gen-AI models. Credo’s strong connectivity technology and growing product portfolio can support continued growth through ramp in key hyperscaler programs, the analyst tells investors in a research note.