Morgan Stanley raised the firm’s price target on Astera Labs (ALAB) to $94 from $74 and keeps an Overweight rating on the shares. Revenue upside in the quarter and the outlook was “much stronger” than in the previous two quarters post IPO, notes the analyst, who sees the strength coming from GPU platforms but also new ASIC processors and the ramp of the second product family. Visibility is building into the ramps of the third and fourth families in the second half of 2025 as well, the analyst added.
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