Morgan Stanley analyst Joseph Moore raised the firm’s price target on Astera Labs to $74 from $55 and keeps an Overweight rating on the shares. Astera announced entry into a new market – PCI express gen 6 switches – as they will introduce a purpose built AI centric PCIe gen 6 switch, noted the analyst. No financial commentary was given since it is the company’s quiet period, but this should be incremental to consensus revenue forecasts given that the firm’s model included nothing for the switch, the analyst tells investors.
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