Credo Technology won an upgrade to buy from a TD Cowen analyst, who cited an expected jump in revenue. Credo stock has advanced 40% in 2024 amid rising expectations.
Analysts predict 62% revenue growth for Credo in fiscal 2025, up from 5% this year, as AI servers drive demand for active electrical cables.
Credo Technology Group (CRDO) delivered earnings and revenue surprises of 40% and 0.47%, respectively, for the quarter ended April 2024. Do the numbers hold clues to what lies ahead for the stock?