Credo Technology Soars After Earnings. Why Analysts Say the Stock Is a Buy.

Credo Technology Soars After Earnings. Why Analysts Say the Stock Is a Buy. · Barrons.com

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Credo Technology stock was soaring Tuesday after the company reported a fiscal fourth-quarter earnings beat and received a flurry of price-target boosts from Wall Street. Credo which provides high-speed connectivity solutions for data centers, posted adjusted earnings of 35 cents a share for the quarter on revenue of $170 million. Analysts’ consensus forecasts had called for a profit of 20 cents and revenue of $160 million.