Astera Labs initiated with an Overweight at Barclays

Barclays analyst Tom O’Malley initiated coverage of Astera Labs with an Overweight rating and $85 price target. Astera is at the forefront of connectivity within the data center and looks well positioned to take advantage of the continued growth and momentum of artificial intelligenace spend across the industry, the analyst tells investors in a research note. The firm says Astera is uniquely positioned as a first mover/early market leader across a diverse set of data center connectivity products that sit at the intersection of nascent secular trends in AI and cloud computing.