Astera Labs price target lowered to $65 from $85 at Jefferies

Jefferies analyst Blayne Curtis lowered the firm’s price target on Astera Labs (ALAB) to $65 from $85 and keeps a Buy rating on the shares. The quarter and guide were “about as good as could be hoped for,” with management reiterating many times that content is up across the Blackwell family, the analyst tells investors. While the firm acknowledges that many investors “will still question the revenue trajectory,” it thinks the picture for content at Nvidia (NVDA) next year “has become a bit clearer.”