Citi lowered the firm’s price target on Astera Labs (ALAB) to $200 from $250 and keeps a Buy rating on the shares following a transfer of coverage. The firm believes the company’s Scorpio opportunity remains intact. Astera will be a “key beneficiary of the burgeoning AI scale-up megatrend,” the analyst tells investors in a research note. Citi cites the AI valuation re-rating for the target cut.
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