Credo falls as optical products revenue forecast disappoints
BUZZ-Credo falls as optical products revenue forecast disappoints ** Shares of connectivity solutions provider Credo Technology CRDO.O fall 9.6% to $19.9 premarket
** Company's reiteration of FY27 optical products revenue forecast of more than $600 mln disappointed investors as they were expecting a stronger upside, J.P.Morgan says
** CRDO's FY27 revenue growth forecast of more than 85% largely matched investor's expectations and offered limited upside - JPM
** Brokerage cuts PT on stock to $310 from $335, still implying a 33.3% upside to stock's last close
** Company posts Q1 adj. EPS of $1.2 and revenue of $479 mln, above analysts' average estimate of $1.17 and $471.8 mln, respectively - data compiled by LSEG
** 21 of 22 brokerages rate the stock "buy" or higher and one "hold"; median PT is $285 - LSEG data
** Shares up 43.6% YTD
(Reporting by Anand Gopal in Bengaluru)