Credo Technology Group (NASDAQ:CRDO) shares are trading higher on Tuesday, driven by a broader technology market recovery rather than specific corporate news.
The Nasdaq composite index gained 1.52%, while the S&P 500 rose 0.71%.
The technology sector led all market segments with an overall increase of 2.18%.
Analysts Lift Price Forecast The upward movement follows several recent Wall Street upgrades for the AI connectivity chipmaker.
On June 22, Stifel maintained its Buy rating on Credo and increased its price forecast to $350, while Evercore ISI Group initiated coverage with an Outperform rating and a $325 price forecast.
