tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Astera Labs price target raised to $170 from $82 at Raymond James

Raymond James raised the firm’s price target on Astera Labs (ALAB) to $170 from $82 and keeps an Outperform rating on the shares. Astera Labs beat consensus estimates for revenue by 11%, while its Q3 revenue outlook was 14% ahead of consensus, driven by a strong inflection in Scorpio-P switches, the analyst tells investors in a research note. The firm says premium valuation is justified given multiple new products and industry-leading gross margins.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1