Roth Capital lowered the firm’s price target on Astera Labs (ALAB) to $100 from $120 and keeps a Buy rating on the shares. While the newer UALink AI cluster connectivity open standard enables competitive solutions to Nvidia’s (NVDA) proprietary NVLink protocol, the firm notes that Astera was announced as one of Nvidia’s partners to offer NVLink in a chiplet/IP third-party solution as well. The incremental UALink-based Astera market opportunity is consistent with the firm’s growth thesis on the connectivity portfolio, the analyst tells investors.
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