Astera Labs (ALAB) Surges on New BNP Paribas Coverage as Azure CXL Deal Highlights AI Momentum – 20 November 2025
Astera Labs shares surged to $158–159 in late trading Thursday after BNP Paribas Exane initiated coverage with an “Outperform” rating and a $225 price target. The move follows a strong Q3 earnings beat, with revenue up 104% year-over-year to $230.6 million and EPS of $0.49, both above Wall Street estimates. Intraday volume topped 1.8 million shares. The company issued bullish Q4 guidance.