Growing demand for connectivity solutions as artificial intelligence adoption accelerates should benefit this lesser-known semiconductor name, according to Goldman Sachs.
Analyst Toshiya Hari lifted his price target on Credo Technology to $18 from $16 a share, equal to 21% upside from Thursday's close.
The higher price target at Goldman comes after AI chipmaker Nvidia 's second consecutive show-stopping quarterly report .
Along with reiterating Goldman's buy rating, Hari lifted revenue and adjusted EBITDA estimates by 5% and 4% over the next two years, respectively.
Bolton lifted his price target to $20 from $17 in a Friday note, equivalent to more than 34% upside from Thursday's close.
Persons:
Goldman Sachs, Toshiya Hari, Goldman, Hari, Credo's, …, bode, Needham, Quinn Bolton, Bolton, — CNBC's Michael Bloom
Organizations:
Technology, AEC, Nvidia, Microsoft
Locations:
China