JP Morgan Maintains Rambus Neutral, $11.50 PT

JP Morgan has published a report maintaining Rambus'

Neutral rating and $11.50 price target. In the report, JP Morgan writes, "We are adjusting estimates to reflect yesterday's positive preannouncement regarding 4Q revenues. Maintain Neutral. Price Target remains $11.50. Positive 4Q announcement: RMBS issued a press release yesterday revealing that 4Q revenue would be about $83 million, versus prior guidance of $66-$71 million, and consensus expectations of about $69 million. Shares of Rambus are currently trading at $7.93, down 2.40% from yesterday's close.