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.
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