JPMorgan Lowers Rambus (RMBS) to Neutral Following 45% Run; Cautious on ITC, Patent Cases
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Price: $7.74 -0.26%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade RMBS Now!
Shares of Rambus (Nasdaq: RMBS) are down about 2 percent ahead of the bell Monday as J.P. Morgan cut its rating on the stock from Overweight to Neutal, keeping a $6.50 price target.
Following a 45 percent climb in Rambus stock since May 18th, JPMorgan said it didn't see a clear catalyst for the movement. The downgrade comes as JPMorgan is becoming a little more cautious on Rambus moving forward.
JPMorgan has low expectations for a favorable outcome in a pending International Trade Commission (ITC) antitrust case and well as pending patent litigation.
Despite the downgrade, JPMorgan sees a support level at $4.25, a 30 percent discount to last Friday's close at $6.09.
For an analyst ratings summary and ratings history on Rambus Inc. click here. For more ratings news on Rambus Inc. click here.
Shares of Rambus Inc. closed at $6.09 yesterday, with a 52 week range of $4.00-$18.55.
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Following a 45 percent climb in Rambus stock since May 18th, JPMorgan said it didn't see a clear catalyst for the movement. The downgrade comes as JPMorgan is becoming a little more cautious on Rambus moving forward.
JPMorgan has low expectations for a favorable outcome in a pending International Trade Commission (ITC) antitrust case and well as pending patent litigation.
Despite the downgrade, JPMorgan sees a support level at $4.25, a 30 percent discount to last Friday's close at $6.09.
For an analyst ratings summary and ratings history on Rambus Inc. click here. For more ratings news on Rambus Inc. click here.
Shares of Rambus Inc. closed at $6.09 yesterday, with a 52 week range of $4.00-$18.55.
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