Astera Labs price target lowered to $75 from $90 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Astera Labs to $75 from $90 and keeps a Buy rating on the shares. The firm notes Astera’s strong Q2 results and even better Q3 guidance, combined with commentary on next-gen PCIe content in AI servers and products ramping into the AI backend network, should provide strong support for the stock, and it likes the entry point into this stock as well as any point since Craig-Hallum initiated coverage.