BofA Raises PT on Credo Technology Group Holding (CRDO) to $165 From $120, Keeps a Buy Rating

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is one of the top high growth international stocks to buy right now. On September 5, BofA raised the firm’s price target on Credo Technology Group Holding Ltd. (NASDAQ:CRDO) to $165 from $120, keeping a Buy rating on the shares.

The rating update came after the fiscal Q1 report, with Credo Technology Group Holding Ltd. (NASDAQ:CRDO) reporting the strongest “beat and raise” among its peers in the AI landscape.

The firm told investors in a research note that Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is continually diversifying its customer base, and raised its estimates by 30%-40%.

BofA contended that Credo Technology Group Holding Ltd.’s (NASDAQ:CRDO) core business growth is capable of sustaining at a 25%-30% annual pace over the next few years.

Headquartered in George Town, Cayman Islands, Credo Technology Group Holding Ltd. (NASDAQ:CRDO) develops connectivity products and solutions for the data infrastructure market. Its offerings include active electrical cables, SerDes chiplets, and integrated circuits.

While we acknowledge the potential of CRDO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.