Astera Labs stock jumps on RBC call as traders size up the next catalyst
Astera Labs shares rose 4.8% to $182.80 after RBC Capital Markets initiated coverage with an Outperform rating and a $225 target. RBC cited strong retimer demand and upcoming Scorpio switch launches as catalysts. The move comes ahead of Astera’s Feb. 10 earnings report and amid heightened scrutiny of AI chip stocks. Trading volume reached about 4.2 million shares Friday.