Astera Labs initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of Astera Labs with a Buy rating and $85 price target. The analyst believes Astera offers a “unique” artificial intelligence-enabling growth story as the company addresses the “sizable and rapidly growing” cloud mega-trend via a broadening portfolio of connectivity solutions. The firm says the company offers investors a unique pure-play vehicle to gain exposure to the AI megatrend via a company with differentiated, broadening and strongly profitable products.