UPDATE: Stifel Starts Everspin Technologies (MRAM) at Buy
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(Updated - November 2, 2016 10:54 AM EDT)
Stifel initiated coverage on Everspin Technologies (NASDAQ: MRAM) with a Buy rating and a price target of $11.
Analyst Kevin E. Cassidy said,"We believe MRAM is a breakthrough memory technology delivering the speed of DRAM and the non-volatility of Flash. MRAM is a persistent memory solution for Storage Class Memory. Everspin is the first company to ship MRAM at volume and remains solidly ahead of its competition in terms of memory density and proven ability to deliver its products. In our view, Everspin’s partnership with GLOBALFOUNDRIES will accelerate density improvements, lower cost/Gb and increase production capacity. We view these factors as critical for the expansion of a memory market."
Shares of Everspin Technologies closed at $7.25 yesterday.
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