Astera Labs (ALAB) shares climbed more than 30% this week. The stock closed at $306.88 on May 22.
Evercore ISI raised its price target for the company to $297 from $215. Analysts maintained an Outperform rating.
The firm cited a rapid transition from AI training to inference workloads. This shift increases demand for customized connectivity solutions.
RBC and other firms also issued positive price targets. These updates followed record-breaking Q1 earnings reported earlier in May.
The rally triggered a technical golden cross breakout. This movement reflects strong institutional and retail demand for AI rack-scale connectivity providers.