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Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares jumped almost 40% in early trading on Tuesday.
The visibility into the company’s growth inflection in the back half of the year improved significantly, according to BofA Securities.
Analyst Vivek Arya upgraded the rating for Credo Technology from Underperform to Buy while raising the price target from $27 to $80.
The Credo Technology Thesis: The company delivered a “solid beat and material raise” quarter, Arya said in the upgrade note.
Check out other analyst stock ratings.
Credo Technology’s outlook suggests “the start of a multi-year adoption …
Full story available on Benzinga.com
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