BNP Paribas Exane initiated coverage of Astera Labs (ALAB) with an Outperform rating and $225 price target which represents over 50% upside. The stock has declined 40% from the peak on investor concerns over the market acceptance of UALink, which creates an attractive entry point, the analyst tells investors in a research note. BNP thinks Amazon’s next generations of Trainium server systems could drive significant revenue growth opportunities for Astera over the next three years.
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