Credo Technology Group Holding Ltd (NASDAQ:CRDO) Receives an Average “Buy” Recommendation from Brokerages

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Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) received an average “Buy” recommendation from the eight analysts who cover the stock, Marketbeat reports. Seven investment analysts gave the stock a buy rating. The 12-month average price target among analysts who updated their stock coverage in the last year is $21.00.

A number of research firms have recently commented on the CRDO. Needham & Company LLC began covering shares of Credo Technology Group in a research note on Tuesday, February 22. They issued a “buy” rating and a target price of $20.00 for the company. Cowen raised its price target on Credo Technology Group shares from $19.00 to $20.00 and gave the company an “outperform” rating in a Thursday, March 10 research note. Goldman Sachs Group began covering shares of Credo Technology Group in a research note on Tuesday, February 22. They set a “buy” rating and a price target of $23.00 for the company. Craig Hallum began covering shares of Credo Technology Group in a research note on Tuesday, February 22. They set a “buy” rating and a price target of $19.00 for the company. Finally, Bank of America began covering shares of Credo Technology Group in a research note on Tuesday, February 22. They set a “buy” rating and a price target of $20.00 for the company.

CRDO stock opened at $13.69 on Friday. Credo Technology Group has a 52 week minimum of $10.80 and a 52 week maximum of $18.00.

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Credo Technology Group (NASDAQ:CRDO – Get Rating) last reported results on Wednesday, March 9. The company reported EPS of $0.03 for the quarter, beating analyst consensus estimates of $0.01 ($0.01) by $0.04. On average, research analysts expect Credo Technology Group to post -0.1 EPS for the current fiscal year.

About Credo Technology Group (Get a rating)

Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Malaysia, Hong Kong and globally. Its products include integrated circuits, active power cables and SerDes chips based on its serializer/deserializer and digital signal processor technologies.

Further reading

Analyst Recommendations for Credo Technology Group (NASDAQ: CRDO)

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