Northland analyst Gus Richard upgraded Astera Labs (ALAB) to Outperform from Market Perform with a $175 price target. The firm, which expects earnings to accelerate as the company ramps its Scorpio X product in the spring, believes Scorpio X can drive revenue per GPU to $1,000. Astera works with a majority of hyperscalers, with Amazon being their lead customer, notes the analyst, who is confident in Amazon’s data center spending and Astera’s revenue growth, noting that the firm’s raised target reflects higher calendar year 2028 EPS estimates.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALAB:
- Astera Labs’ Earnings Call: Strong Growth and Strategic Moves
- Astera Labs price target lowered to $170 from $225 at TD Cowen
- Astera Labs price target raised to $200 from $185 at Stifel
- Astera Labs price target raised to $215 from $180 at JPMorgan
- Astera Labs, Inc.: Strong Growth and Promising Prospects Drive Buy Rating