Astera Labs price target raised to $160 from $120 at Northland

Northland raised the firm’s price target on Astera Labs (ALAB) to $160 from $120 and keeps a Market Perform rating on the shares. The ramp of the Scorpio P PCIe switch for scale-out in AI racks drove revenue upside and the firm expects continued momentum driven by new products, diversification of AI platforms, and increasing content, but maintains its rating due to valuation.

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