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Investing.com - Stifel has raised its price target on Credo Technology Group Holding Ltd (NASDAQ:CRDO) to $115.00 from $80.00 while maintaining a Buy rating on the stock. The company’s stock has demonstrated remarkable momentum, delivering a 232.94% return over the past year and currently trading near its 52-week high of $104.35.
The significant price target increase represents a 43.75% upward revision from the previous target, reflecting heightened confidence in the company’s future performance.
Stifel analyst Tore Svanberg based the new 12-month target price on a 23.0x CY26E EV/Sales multiple, suggesting expectations for continued strong revenue growth through calendar year 2026.
The firm identified several risk factors that could impact its target price, including general cyclicality of the semiconductor industry and the timing and degree of market acceptance of new products and technologies.
Stifel also noted Credo Technology’s dependence on a small number of key suppliers and customers as a potential risk factor for the company’s performance.
In other recent news, Credo Technology Group Holding Ltd. reported a 25.9% quarter-over-quarter revenue increase, surpassing previous estimates by 6.3%, with non-GAAP earnings per share reaching $0.35, exceeding prior expectations by $0.08. Stifel analysts responded to this strong financial performance by raising the company’s price target to $80, maintaining a Buy rating, and highlighting its leadership in AI and data center connectivity. Mizuho (NYSE:MFG) also increased its fiscal 2026 revenue estimates to $832 million and earnings per share to $1.59, citing Credo’s advantages in data center technologies and maintaining an Outperform rating with a price target of $98. TD Cowen adjusted its price target for Credo to $95, emphasizing the company’s growth potential in high-speed connectivity for datacenter AI applications and naming it the "Best Smidcap Idea for 2025." Furthermore, Noble Capital reiterated its Outperform rating with a price target of $14, noting Credo’s compelling valuation compared to industry peers. Analysts at TD Cowen also raised their price target to $85 from $50, highlighting a fiscal year 2026 growth target of 85% and significant improvements in customer diversification. These developments underscore the positive outlook and growth trajectory for Credo Technology.
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