Credo Technology initiated with a Buy at Jefferies

Jefferies initiated coverage of Credo Technology (CRDO) with a Buy rating and $175 price target Credo offers a “meaningful opportunity to invest in a premium growth name at significantly discounted valuation,” the analyst tells investors in a research note. The firm sees a “significant disconnect” between the market’s perception of Credo’s AI opportunity over the next several years relative to its actual opportunity. Jefferies believes active electrical cables have a “clear runway for continued growth” through AI and general-purpose compute workloads.

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