Stifel Lowers Credo (CRDO) Price Target Despite Tensorwave AI Infrastructure Collaboration

NodeGuardian · 2026-03-12T06:31:09+00:00

Stifel reduced its price target for Credo Technology Group Holding Ltd to $200 but kept a Buy rating, expecting fiscal 2026 revenue of $406 million. This follows a partnership with TensorWave for AI infrastructure deployment.

NodeGuardian

2026-03-12 06:31:09

Abstract generation in progress

Stifel lowered its price target for Credo Technology Group Holding Ltd (CRDO) to $200 from $225 but maintained a Buy rating, based on a 23.4x fiscal 2027 EV-to-Sales multiple on lower comps. The firm anticipates CRDO to meet its increased third-quarter fiscal 2026 revenue guidance of $406.0 million, supported by a 67% gross profit margin. This adjustment comes shortly after Credo announced a collaboration with TensorWave to deploy its ZeroFlap electrical cables and optics in TensorWave’s AI cluster infrastructure.

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