Credo Technology Group Holding Ltd (CRDO) Draws Attention Amid Analyst Coverage and Industry Developments

Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the stocks with huge growth potential, according to the media. On January 22, Credo Technology Group Holding Ltd (NASDAQ:CRDO) entered into a patent license and mutual covenant agreement with 3M Company.

The agreement covers active electrical cable technology, as Credo is to license certain patents to 3 M. Don Barnetson, Senior Vice President of Product at Credo, announced, “I am pleased to have reached an amicable agreement with 3M Company.” The terms of the agreement remain confidential.

Earlier on January 21, Rosenblatt initiated coverage of the stock with a Neutral and a $170 price target. The research firm touted the company’s near-term growth prospects even as it faces longer-term risks. The research firm expects the company’s revenue to more than triple, with earnings expected to more than quadruple in 2026.

Rosenblatt expects Credo Technologies to continue capitalizing on the high demand for its high-speed copper cable technology in artificial intelligence data centers. The company has already benefited from its early leadership in 400G and 800G active-electrical cables that connect servers and network switches.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) is a semiconductor company that provides high-speed, energy-efficient connectivity solutions for data infrastructure, specifically targeting AI, hyperscale data centers, and cloud computing 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.