Credo Technology price target raised to $75 from $38 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Credo Technology (CRDO) to $75 from $38 and keeps a Buy rating on the shares. The firm says Credo’s guidance delivers on the inflection the company had suspected was coming for a year, and confirms its thesis about connectivity. To state it clearly, Craig-Hallum adds, all growth investors need exposure to high-speed connectivity, and Credo’s 100% exposure is a perfect way to play it. While the firm doesn’t have a strong call on what short-term traders should do with the stock on the open today, Craig-Hallum still holds firmly to its belief that this stock can deliver favorable returns over a multi-year time period.