Astera Labs, Inc., the Technology sector company, was revisited by a Wall Street analyst today. Analyst Joseph Moore from Morgan Stanley maintained a Buy rating on the stock and has a $210.00 price target.
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Joseph Moore’s rating is based on the strategic opportunities presented by Astera Labs, Inc.’s involvement with Amazon’s newly unveiled Trainium 4. The integration of UALink and NVLink Fusion in Trainium 4 signifies a substantial opportunity for Astera, as these technologies expand the potential applications beyond traditional NVIDIA platforms.
Moore highlights that while the announcement of Trainium 4 does not guarantee Astera’s role, the confirmation of UALink usage is a positive indicator. Additionally, despite initial market reactions, the use of NVLink Fusion in hybrid racks with both GPU and Trainium 4 is seen as an incremental benefit. These factors collectively suggest a strong potential for Astera’s growth and justify the Buy rating.
Moore covers the Technology sector, focusing on stocks such as Micron, Nvidia, and SanDisk Corp. According to TipRanks, Moore has an average return of 17.0% and a 59.34% success rate on recommended stocks.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $200.00 price target.