Astera Labs (ALAB) traded higher Monday, up about 3%, after a fresh bullish analyst action helped reset near-term sentiment. Jefferies raised its price target to $130 from $95 and maintained a Buy rating, pointing to improving estimate confidence and a potential bigger inflection in the second half of 2026.

The Jefferies note flagged expectations that Astera supplies Scorpio X for scale-up in Amazon’s Trainium 3 and sees an additional opportunity in a new UAL switch for Trainium 4, framing these as drivers of a larger 2H 2026 ramp. Jefferies also lifted its longer-dated earnings view (raising its calendar 2027 EPS forecast), reinforcing the message that the model can move higher from here even if the major step-up is later in the cycle.

The next major scheduled catalyst is the company’s next earnings report, currently shown by market calendars as May 5, 2026. With the stock already rebounding into that window, investors will focus on any update to demand visibility for connectivity products tied to AI infrastructure buildouts and whether management can support the ‘second-half ramp’ narrative with firmer customer and deployment signals.