Astera Labs price target lowered to $114 from $142 at Morgan Stanley

Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Astera Labs (ALAB) to $114 from $142 and keeps an Equal Weight rating on the shares. The DeepSeek release highlights evolutionary innovations in AI, “some of which may be deflationary,” the analyst tells investors. While the magnitude of the reaction to DeepSeek’s release was “surprising,” the stock market reaction is “probably more important than the cause” and could bring further export controls or reduce spending enthusiasm, adds the analyst, who is trimming price targets among semiconductor suppliers exposed to AI, but remains positive on the group.