Needham & Company Upgrades Netlist (NLST) to Buy; Has Netlist’s Moment Finally Arrived? Risk/Reward Tips In Favor

Needham & Company upgraded Netlist (NASDAQ: NLST) from Hold to Buy with a price target of $2.75.

Needham analyst said, "The ramp of HyperCloud has been painfully slow as OEM quals from major players failed to materialize or were left in limbo ahead of the Romley launch (anticipated in Feb 12). Today, evidence is mounting that the tide may finally be turning for NLST on quals, with Tier One opportunities on 16GB and 32GB HyperCloud in 1H12. To this end, NLST provided impressive directional guidance for 2012 (implying $90-120M potentially for overall revenue). Consequently, we are upgrading our rating ahead of any formal announcement and the Romley launch to Buy from Hold and instituting an interim $2.75 price target based on 1x our conservative C12 sales (ex. cash)."

For an analyst ratings summary and ratings history on Netlist click here. For more ratings news on Netlist click here.

Shares of Netlist closed at $1.65 yesterday.

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