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J.P. Morgan Maintains Astera Labs(ALAB.US) With Buy Rating, Raises Target Price to $110

Moomoo News ·  Nov 7, 2024 09:32  · Ratings

J.P. Morgan analyst Harlan Sur maintains $Astera Labs (ALAB.US)$ with a buy rating, and adjusts the target price from $70 to $110.

According to TipRanks data, the analyst has a success rate of 66.7% and a total average return of 25.1% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Astera Labs (ALAB.US)$'s main analysts recently are as follows:

  • Astera Labs' revenue performance in the quarter and the future outlook was significantly stronger than in the previous two quarters following its IPO. The observed strength is not only due to GPU platforms but also stems from new ASIC processors and the successful introduction of a second product family. Additionally, there is increasing visibility into the upcoming launch of the third and fourth product families slated for the latter half of 2025.

  • Astera Labs has displayed significant growth, with Aries contributing to another quarter of exceeding expectations, setting the stage for a promising year ahead fueled by Scorpio and Gen 6 advancements.

  • Following a significant surpass and upward revision in Q4, analysts continue to recommend buying, with increased estimates fueled by ongoing momentum for Aries retimers in GPU and ASIC programs, expedited 400G deployments for Taurus, and the expectation of Scorpio switch revenues becoming 10% of total revenues by next year.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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