Rambus (RMBS) Rips Higher Following New Analyst Coverage; Sees Shares Doubling
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Rambus (Nasdaq: RMBS) shares are trading stronger as Sidoti initiated coverage on the stock earlier.
The firm started Rambus at Buy with a $10 price target, basically a 100 percent premium to Tuesday's closing at $4.86.
Given that there's only a handful of analysts covering Rambus, the new call is a notable one.
Shares are 13.5 percent better on the session, trading near intraday highs.
Option implied volatility is also up 20 percent from Tuesday's close, to an overall measure of 66.4 percent.
The firm started Rambus at Buy with a $10 price target, basically a 100 percent premium to Tuesday's closing at $4.86.
Given that there's only a handful of analysts covering Rambus, the new call is a notable one.
Shares are 13.5 percent better on the session, trading near intraday highs.
Option implied volatility is also up 20 percent from Tuesday's close, to an overall measure of 66.4 percent.
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