Astera Labs Inc.
(NASDAQ:ALAB) stock traded higher Tuesday, rebounding from the prior session's pullback after TD Cowen raised its price forecast for the stock while maintaining a Hold rating.
The gain came as the broader market advanced, with the Nasdaq up 1.36% and the S&P 500 adding 0.39%.
On Tuesday, TD Cowen maintained a Hold rating on Astera Labs but raised its price forecast for the stock to $425.
The update follows a period of significant growth for the fabless chip company, with the stock remaining up 120.51% year to date.
