Credo Technology Group Holding Ltd (NASDAQ:CRDO) is identified as a stock with significant growth potential by the media. The company recently entered into a patent license agreement with 3M Company involving active electrical cable technology. Analysts at Rosenblatt initiated coverage on CRDO with a Neutral rating and a $170 price target, citing near-term growth prospects and long-term risks.

Rosenblatt forecasts that Credo Technology Group Holding Ltd (NASDAQ:CRDO) will capitalize on the demand for its high-speed copper cable technology in AI data centers. The company has already established itself as a leader in 400G and 800G active-electrical cables connecting servers and network switches. CRDO specializes in providing high-speed, energy-efficient connectivity solutions for AI, hyperscale data centers, and cloud computing markets.

While Credo Technology Group Holding Ltd (CRDO) offers investment potential, some AI stocks may yield greater returns with lower risks. Investors seeking undervalued AI stocks can explore options beyond CRDO. For more insights on promising AI investments, check out our free report on the best short-term AI stock. This article is originally published on Insider Monkey.

Read more at Yahoo Finance: Credo Technology Group Holding Ltd (CRDO) Draws Attention Amid Analyst Coverage and Industry Developments