Citi raised its price target on Astera Labs, Inc. to $275 from $160, while maintaining a Buy rating on the stock. This substantial increase reflects Citi's heightened optimism regarding Astera Labs' market position and product performance.
The firm upgraded its estimates to account for Astera Labs' robust exposure to the artificial intelligence sector and a better-than-expected ramp-up of its Scorpio X fabric switch product. Scorpio X is a key component in the company's portfolio, designed for scale-up networking in AI clusters.
This revised price target from a prominent investment bank underscores the strong analyst confidence in Astera Labs' ability to capitalize on the booming AI infrastructure market. The positive assessment is driven by the company's technological advancements and successful product adoption.
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