Credo Technology (CRDO) Earns New Analyst Upgrade, Shares Climb to Fresh Peak

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is one of the 10 Stocks Paying Off Big Time.

Credo Technology rallied to a fresh all-time high on Monday, as investors took heart from an investment firm’s bullish coverage for its stock amid further rosy prospects from AI.

In intra-day trading, the stock jumped to its highest price of $308.67 before paring gains to end the session just up by 11.29 percent at $302.52 apiece.

For illustration purposes only. Photo by Carol Gauthier on Shutterstock

In a market note during the day, BNP Paribas said that it expects Credo Technology Group Holding Ltd. (NASDAQ:CRDO) to continue benefitting from the artificial intelligence buildout amid its copper and optical interconnects.

“We continue to view Credo as a key beneficiary of hyperscalers adopting innovations in copper and optical interconnects for both scale-out and scale-up backend networks, as well as frontend network deployments driven by agentic AI,” BNP said.

“Indeed, we believe [active electrical cables], ZF optical transceivers, silicon photonics, Active LED Cables, and OmniConnect gearboxes expand Credo’s [total addressable market] to over $10 billion, or 3x from Credo’s opportunity just 18 months ago,” it noted.

However, BNP issued a price target of $275 on shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO), lower by 9 percent than its closing price on Monday.

It said that the company is increasingly diversifying its customer base, with 3-4 10 percent hyperscale customers expected in full-year 2027.

“We also expect Neoclouds to approach 20 percent of sales over time. Credo initiated that they are involved with 5 of 6 hyperscalers, which we believe are Amazon, Meta, Microsoft, xAI, and Oracle.”

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