Stifel analyst Tore Svanberg has revised the price target for shares of Credo Technology (CRDO, Financial), lowering it from $85 to $69, while maintaining a Buy rating. This adjustment reflects potential impacts from tariffs that affect the Analog, Connectivity, and Processors sector.
As the first quarter earnings reports approach, the firm anticipates that the March quarter results will align with expectations. However, forecasts for the June quarter are projected to be less favorable. This outlook is shaped by the broader context of tariff implications which might have secondary and tertiary effects on the industry.
Despite uncertain factors like the extent, duration, and overall impact of these tariffs, the analyst suggests that the probability of the semiconductor industry experiencing a cyclical downturn has noticeably increased.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Credo Technology Group Holding Ltd (CRDO, Financial) is $71.91 with a high estimate of $90.00 and a low estimate of $50.00. The average target implies an upside of 90.64% from the current price of $37.72. More detailed estimate data can be found on the Credo Technology Group Holding Ltd (CRDO) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, Credo Technology Group Holding Ltd's (CRDO, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Credo Technology Group Holding Ltd (CRDO, Financial) in one year is $56.53, suggesting a upside of 49.87% from the current price of $37.72. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Credo Technology Group Holding Ltd (CRDO) Summary page.
