BUZZ-Credo Technology gains after Q2 profit, revenue top estimates

Reuters2025-12-02
BUZZ-<a href="https://laohu8.com/S/CRDO">Credo</a> Technology gains after <a href="https://laohu8.com/S/QTWO">Q2</a> profit, revenue top estimates

** Shares of cable maker Credo Technology Group CRDO.O jump 17.3% to $200.74 premarket

** Co posts Q2 adj. EPS of 67 cents, beating analysts' estimates of 48 cents, according to data compiled by LSEG

** Q2 revenue of $268 mln also beats estimates of $234.8 mln

** Co-CEO Bill Brennan says results reflect the continued build-out of AI training and inference clusters

** Brokerage TD Cowen says co's momentum on the Active Electrical Cable $(AEC)$ category shows no signs of competitive pressures, and sees near-term strengthening of demand for the same

** Brokerage raises PT on stock to $240 from $190, highest on Wall Street

** 15 of 16 brokerages rate the stock "buy" or higher, one "hold"; their median PT is $167.5 - LSEG

** Up to last close, stock's value has more than doubled in 2025

(Reporting by Avinash P in Bengaluru)

((Avinash.P@thomsonreuters.com;))

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