Astera Labs shares are trading higher after the company announced a new portfolio of fabric switches purpose-build for AI infrastructure at cloud-scale. Also, Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $55 to $74.
Portfolio Pulse from Benzinga Newsdesk
Astera Labs shares rose following the announcement of a new portfolio of fabric switches designed for AI infrastructure at cloud-scale. Morgan Stanley maintained an Overweight rating and increased its price target from $55 to $74.
October 09, 2024 | 12:24 pm
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Astera Labs shares increased due to the launch of new AI infrastructure fabric switches and a positive analyst rating from Morgan Stanley, which raised its price target from $55 to $74.
The launch of new AI infrastructure products is likely to drive demand and growth for Astera Labs. Additionally, Morgan Stanley's increased price target and maintained Overweight rating signal strong confidence in the company's future performance, likely boosting investor sentiment and stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100