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Rambus Shares Get A Boost As Benchmark Sets New Buy Rating, $16 Target

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Shares of Rambus (NASDAQ: RMBS) are trading up more than 2.5 percent Friday afternoon following an earlier bullish note from Benchmark's Gary Mobley.

Mobley initiated coverage on Rambus with a Buy rating and $16 price target.

The Benchmark analyst believes the company will "continue to forge deeper relationships with leading memory suppliers and system-on-chip companies." Mobley sees Rambus continuing to improve its reputation and shrug off the stigma of "a patent troll." Rambus could eventually move toward a model which is more similar to that of ARM Holding (NASDAQ: ARMH), according to Mobley.

With Rambus shares last trading at $11.50, the Benchmark analyst's new price target represents potential upside of about 39 percent.

Latest Ratings for RMBS

DateFirmActionFromTo
Sep 2016Roth CapitalInitiates Coverage onBuy
Jul 2016CitigroupMaintainsBuy
Jun 2016WunderlichInitiates Coverage onBuy

View More Analyst Ratings for RMBS
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Posted-In: Analyst Color News Price Target Initiation Analyst Ratings

 

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