Barclays Initiates Coverage On Credo Technology Group with Overweight Rating, Announces Price Target of $18
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Thomas O'Malley has initiated coverage on Credo Technology Group (NASDAQ:CRDO) with an Overweight rating and a price target of $18.
October 02, 2023 | 10:26 am
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POSITIVE IMPACT
Barclays has initiated coverage on Credo Technology Group with an Overweight rating and a price target of $18, which could positively impact the stock in the short term.
Analyst ratings and price targets can significantly influence a stock's performance. An Overweight rating suggests that the analyst believes the stock will outperform its sector in the next 12 months. The price target of $18 indicates the analyst's confidence in the stock's potential upside. This news is likely to be perceived positively by the market, potentially driving up CRDO's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100