By Vandita Jadeja
Publication Date: 2026-10-07 12:00:00
Quick Read
Credo Technology (CRDO) earns a BUY rating with a $263 price target, offering ~26% upside despite already surging 45% year to date.
Credo grows revenue 115% year over year yet trades at just 31x forward earnings, which is half the multiple of rivals Marvell (MRVL) and Astera Labs (ALAB).
Two customers account for over 60% of Credo’s revenue, making order cuts the single biggest threat to the bull case.
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GPU makers dominate headlines, but AI clusters need the cables, optics and chips that move data between processors. Credo Technology (NASDAQ:CRDO) sells that connectivity layer to hyperscalers, and our model finds room for the stock to rise.
The 24/7 Wall St. price target for Credo stands at $263.13 over the next 12 months. That means 20.35% upside from the model’s reference price of $218.64.
Metric | Value |
|---|---|
Current Price | $218.64 |
Price Target from 24/7 Wall St. | $263.13 |
Upside/Downside | 20.35% |
Recommendation | BUY |
Confidence Level | 90% |
Shares fell 4.41% early Monday to $208.99. At that price, the upside to our target grows to 25.9%. The model rates Credo a buy at a high confidence level. Two things drive that rating: sharply rising earnings and a valuation that sits below Credo’s closest connectivity peers.
