JP Morgan has published a report maintaining Rambus' RMBS 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.
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