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Astera Labs (NASDAQ: ALAB)) saw its shares increase by 4.3% as of 12:20 a.m. ET, following a positive coverage initiation by BNP Paribas Exane analyst Karl Ackerman, who assigned an “outperform” rating and set a price target of $225, implying a 58.4% upside from the previous closing price of $142.01.
Ackerman’s optimistic outlook is based on Astera Labs’ potential benefits from Amazon’s upcoming generations of Trainium server systems. Additionally, Northland analyst Gus Richard also upgraded Astera Labs to “outperform” with a price target of $175.
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