Rambus (RMBS) Seen as Apple Pay Beneficiary at Jefferies

Jefferies analyst Sundeep Bajikar reiterated a Hold on Rambus Inc. (NASDAQ: RMBS) but bumped his price target to $14.00 (from $13.50) as it is seen as a Apple Pay beneficiary.

Bajika commented, "Apple Pay is likely to 1) raise consumer and industry awareness and interest in mobile payments, and 2) raise security requirements for mobile payments in Android-based devices. We expect adoption of Rambus' Crypto Manager (CM) hardware based security solution to accelerate in mobile payment platforms such as Google Wallet, and are incrementally more positive on RMBS. We could become more constructive with visibility into CM business model."

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 $12.40 yesterday.

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