** Brokerage Raymond James initiates coverage on Astera Labs ALAB.O with "outperform" rating
** Brokerage sets PT at $82, representing over 25.5% upside to the stock's last close
** "Exponential growth in compute intensity is creating bottlenecks between chips, boards, and racks, which is necessitating high-speed interconnects in which ALAB specializes" - Raymond James
** Brokerage believes ALAB is well-positioned to benefit from the GenAI megatrend as a leading supplier of high-speed connectivity solutions
** Says premium valuation is justified by GenAI tailwinds, 25-30% growth potential and industry-leading gross margins
** Thirteen of 14 brokerages rate stock "buy" or higher, and one "hold"; with a median PT of $123, according to data compiled by LSEG
** Stock is down nearly 51% YTD, as of last close
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com;))
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