Evercore ISI raised the firm’s price target on Astera Labs (ALAB) to $123 from $110 and keeps an Outperform rating on the shares. Shares were trading 4% lower despite December quarter revenue and EPS excluding a tax benefit being reported above Street forecasts and a March quarter outlook that was also above expectations, the analyst noted. The firm remain buyers as Astera is set to benefit from momentum across multiple products and new product announcements likely coming over the next 12-to-18 months, adding that it continues to believe its estimates could prove conservative for 2025/26.
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