Astera Labs price target lowered to $55 from $85 at Morgan Stanley

Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Astera Labs to $55 from $85 and keeps an Equal Weight rating on the shares. Revenue came in 18% higher in Q2 with guidance for 25% growth in Q3 on AI retimer strength, notes the analyst, whose estimates are now higher but whose target is lower to reflect some content uncertainty and AI volatility.