On July 2, Astera Labs rose 3.73% in regular trading, trading at approximately $456.49/share, with turnover of $4.48 billion. The stock continued to gain momentum as multiple major international investment banks significantly raised their price targets.

On the news front, UBS nearly doubled its target price from $205 to $400, while BofA Securities raised its target from $240 to $450. UBS cited the growing data center CXL high-speed interconnect market, noting that Astera Labs' Leo CXL expander product has been adopted by Microsoft and is expected to enter volume shipment in the second half of the year. UBS further indicated the company has secured a design win from another major U.S. cloud service provider. Additionally, the stock was added to the Nasdaq 100 Index in June, boosting institutional investor attention. Both banks maintained Neutral ratings despite the aggressive target price increases, providing strong valuation anchoring support for the market.

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