Citi raised the firm’s price target on Astera Labs (ALAB) to $275 from $160 and keeps a Buy rating on the shares. The firm also opened a “30-day upside catalyst watch” on the shares ahead of October’s OCP Global Summit. Citi upped estimates to reflect Astera’s artificial intelligence exposure and a better than expected ramp of Scorpio X, the company’s new AI product. The firm sees strong earnings growth for Astera over the next three years.
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