Credo Technology shares surge 13.01% after-hours on J.P. Morgan's overweight rating and AI infrastructure product momentum.

Credo Technology Group Holding Ltd. (CRDO) surged 13.01% in after-hours trading, driven by J.P. Morgan’s initiation of coverage with an “overweight” rating and a $165 price target, signaling strong institutional backing for its AI/data-center connectivity solutions. The firm highlighted CRDO’s role in the AI infrastructure boom, emphasizing demand for its high-speed SerDes, DSPs, and optical transceivers. Concurrently, Barron’s reinforced the bullish narrative, while Zacks and Schaeffer’s cited product momentum (e.g., ZeroFlap transceivers) and technical optimism. These factors outweighed near-term concerns around insider selling by executives, including the CEO, which had tempered earlier sentiment. The move aligns with CRDO’s strategic positioning in AI-driven data-center growth, bolstered by new product launches and analyst validation.