Morgan Stanley Raises PT on Astera Labs (ALAB) to $200 From $155, Keeps an Overweight Rating

Astera Labs, Inc. (NASDAQ:ALAB) is one of the best hot large cap stocks to buy according to hedge funds. On August 29, Morgan Stanley analyst Joseph Moore raised the firm’s price target on Astera Labs, Inc. (NASDAQ:ALAB) to $200 from $155, keeping an Overweight rating on the shares.

The analyst told investors that the rack scale AI business brought about a greenfield opportunity worth $17 billion “virtually overnight,” bringing opportunities for Astera Labs, Inc. (NASDAQ:ALAB), and other companies, including Broadcom, Nvidia, Marvell, and more.

Astera Labs, Inc. (NASDAQ:ALAB) is a global semiconductor company that provides hardware and software solutions for AI and cloud infrastructure applications to solve data, memory, and networking bottlenecks. The company’s operations are divided into the following geographical segments: Taiwan, China, United States, and Other.

While we acknowledge the potential of ALAB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.