Astera Labs (ALAB) is climbing again today, up roughly 7.8% to $212.68, as the market continues to bid up AI data-center connectivity names on bullish sell-side commentary. The latest catalyst is a price-target increase from RBC Capital to $250 (from $225) while reiterating an Outperform view, with the analyst pointing to a steeper ramp in Scorpio switch revenue through 2026 and potential upside tied to higher content per accelerator platform.

The call is landing into an already-strong tape for ALAB, with shares extending a multi-session run-up that has attracted momentum participation. The RBC framing focuses on expanding revenue contribution from Astera’s switching platform as AI clusters scale and interconnect needs rise, reinforcing a view that connectivity becomes a larger, more durable slice of data-center spending than many models previously assumed.

Investors are now likely to focus on whether upcoming disclosures and results validate the implied 2026 ramp embedded in the latest targets, especially for Scorpio-related demand and attach rates. Near-term positioning can remain sensitive to valuation and any incremental company updates, but the immediate driver for today’s move is the renewed optimism from the RBC target hike and the continuation of the stock’s recent momentum.