Barclays Remains a Buy on Credo Technology Group Holding Ltd (CRDO)

​Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the Best Russell 2000 Stocks to Buy Right Now. On January 16, Thomas O’Malley from Barclays reiterated a Buy rating on the stock and raised the price target from $220 to $260. Earlier, on January 9, Quinn Bolton from Needham reiterated a Buy rating on Credo Technology Group Holding Ltd (NASDAQ:CRDO) with a $220 price target.

​Analysts at Barclays noted that the updated price target reflects the firm’s positive outlook on the semiconductor sector. The firm sees 2026 as another year driven by artificial intelligence. Barclays believes that quality stocks with an AI ramp-up will lead the market this year.

Similarly, Needham also added Credo Technology Group Holding Ltd (NASDAQ:CRDO) to its conviction list, calling it one of the best stocks for 2026. The firm expects Credo to exceed estimates, driven by near-term opportunities in Active Electrical Cable as its adoption increases among hyperscalers.

​Credo Technology Group Holding Ltd (NASDAQ:CRDO), based in Grand Cayman, the Cayman Islands, is a provider of high-speed connectivity solutions. Founded in 2008, the company offers its products to hyperscalers, original equipment manufacturers, and other companies in the enterprise and HPC markets.

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.