Mizuho Increases Credo Technology (CRDO) Price Target on AI Deployments

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is one of the best Russell 2000 stocks to buy now. On August 13, Mizuho Securities raised its price target for Credo Technology stock to $135, up from $112. The analysts kept the “Outperform” rating on the company, citing Credo Technology’s expected benefits from artificial intelligence (AI) server deployments at Microsoft, xAI, and Amazon. Additionally, Mizuho anticipates that Credo Technology will add two key customers by the end of fiscal 2026, which the analysts believe will enhance the company’s revenue profile.

Mizuho Increases Credo Technology (CRDO) Price Target on AI Deployments

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Mizuho kept its quarterly and fiscal year estimates unchanged: July quarter estimates remain at $190 million in revenue and $0.37 EPS, while full fiscal 2026 projections are $860 million in revenue and $1.65 EPS, with fiscal 2027 estimates of $1.17 billion and $2.28, respectively.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is a fabless semiconductor company. It designs and develops high-speed connectivity solutions for data centers, enterprise networks, and AI infrastructure. The company’s products include serializer/deserializer (SerDes) chiplets, active electrical cables, and optical DSPs that enable efficient data transfer across hyperscale environments.

While we acknowledge the potential of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRDO and that has 100x upside potential, check out our report about the cheapest AI stock.

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