Evercore ISI raised the firm’s price target on Astera Labs (ALAB) to $104 from $87 and keeps an Outperform rating on the shares. Astera’s Chief Business Officer Thad Omura, Fellow of Technology & Ecosystems Chris Petersen and Head of IR Nick Aberle presented yesterday on their UALink related opportunities and the firm came away “incrementally more positive,” the analyst tells investors. The firm believes Astera’s focus on expanding their product portfolio for rack-scale AI suggests current estimates “could ultimately prove to be conservative,” the analyst added.
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