According to CNBC, BMO Capital Markets initiated coverage of Astera Labs with an outperform rating and a $375 price target, implying 68% upside from Wednesday's close. Analyst Harsh Kumar said Astera is a key AI networking provider whose Aries, Taurus, Leo and Scorpio product lines address connectivity and memory bottlenecks in large AI clusters. Shares have fallen nearly 30% over the past three months amid a rotation out of semiconductor stocks, while the iShares Semiconductor ETF is down 15% over the same period. Kumar said Astera could benefit from ongoing AI and cloud infrastructure deployments and plans to expand into optics, racks and custom semiconductor solutions. Of 24 analysts covering the company, 17 rate the stock buy or strong buy, while seven rate it hold, according to LSEG data.