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Why is Astera Labs stock hitting all-time high?

Astera Labs stock surges to all-time high on CEO conference appearance and analyst upgrade. Key details inside.

William Thomas
ByWilliam Thomas- Senior Editor
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Why is Astera Labs stock hitting all-time high?
Photo: Prepared by Bond.az

Astera Labs stock surged nearly 12% to $273.45, touching a fresh 52-week high of $274.40.

The rally was fueled by CEO Jitendra Mohan's presentation at J.P. Morgan's conference and an analyst upgrade from Evercore ISI, which raised its price target to $297.

RBC also raised its target to $250, citing Amazon's expanded deal with Anthropic and expected ramp of Scorpio X switches.

Broader market supported the move: S&P 500 gained 0.6%, Dow 0.6%, NASDAQ 0.9%.

Astera Labs reported Q1 revenue of $308.4 million, up 93% YoY, with strong guidance.

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