Astera Labs initiated with an Outperform at Raymond James

Raymond James analyst Srini Pajjuri initiated coverage of Astera Labs (ALAB) with an Outperform rating and $82 price target Astera, a “leading” supplier of high-speed connectivity solutions, is well-positioned to benefit from the Generative AI “megatrend,” the analyst tells investors. Astera is the “dominant” supplier of the $2B PCle retimer market and making “solid progress” in the fast-growing Active Electrical Cable market, the analyst added.