Credo Technology price target raised to $80 from $45 at Roth MKM

Roth MKM raised the firm’s price target on Credo Technology (CRDO) to $80 from $45 and keeps a Buy rating on the shares. The firm cites the company’s Q2 earnings beat while noting that the management is seeing broad product strength, with revenue contribution from large AI infrastructure active electrical cabling – AEC – programs, the analyst tells investors in a research note. Roth MKM adds that it sees all major hyperscalers ramping industry-wide AEC programs over the next several quarters, with Credo benefiting from its leadership position.