RBC Capital raised the firm’s price target on Astera Labs (ALAB) to $270 from $250 and keeps an Outperform rating on the shares. The company reported a solid quarter driven by Gen-AI demand and new product ramps, the analyst tells investors in a research note. Core PCIe retimer business continues to grow at a healthy pace on the back of Gen6 transition, while Scorpio-P switch revenue surpassed 20% of sales with two additional customers scheduled to ramp later in the year, the firm added.
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