Astera Labs initiated with a Neutral at UBS

UBS analyst Natalia Winkler initiated coverage of Astera Labs (ALAB) with a Neutral rating and $180 price target The company has “quickly emerged as a credible” AI networking supplier, driven by its execution in retimers and successful expansion beyond its initial anchor customer, the analyst tells investors in a research note. UBS is constructive on Astera’s growth prospects over the next three years. However, the company’s incremental growth should come from a more competitive switching market and the stock’s valuation is well above its AI networking peers, contends UBS.

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