BMO Starts Astera Labs Coverage With Outperform Rating, $375 Target
Photo: TokenPost
BMO Capital Markets opened coverage of Astera Labs with an Outperform rating and a $375 price target, adding a new analyst call on the AI networking company after a steep three-month share decline. Astera shares had fallen nearly 30% over that period as investors rotated out of semiconductor stocks and raised concerns about the durability of the AI trade. The iShares Semiconductor ETF declined 15% over the same period. BMO analyst Harsh Kumar described Astera as a critical player in AI networking. He said the growth of large AI clusters is increasing the network demands AI systems must meet.
Source: TokenPost
