BWS Financial Says Rambus (RMBS) Should Trade Higher On Favorable Preliminary Ruling

October 7, 2009 11:35 AM EDT

BWS Financial commented on Rambus (Nasdaq: RMBS) today after the company received favorable news from Judge Richard Kramer on October 6, 2009. The judge made a preliminary ruling against a motion from the defendant, Samsung Electronics, who was trying to block the use of prior guilty pleas made with the Department of Justice.

BWS Financial analyst Hamed Khorsand said, "The significance of the decision is that RMBS would be able to present evidence of guilty pleas of anti-trust violations." He said this could carry some weight with the jury.

He said shares of RMBS have not reacted as well as he would have thought after the decision, saying "we believe this is significant enough that RMBS shares could trade higher and bring about the momentum that has been nonexistent in the shares for several months."

Hamed Khorsand said the next catalyst for RMBS is the ITC case against NVIDIA (Nasdaq: NVDA) slated to begin October 13, 2009.

The firm is maintaining their Buy rating and $20 price target on RMBS.

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