BWS Financial is a Buyer of Rambus (RMBS) Under $10
Get Alerts RMBS Hot Sheet
Price: $58.12 --0%
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 4
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 4
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BWS Financial is out with a research note today considering recent developments related to litigation against Rambus (Nasdaq: RMBS). The firm maintains a Buy rating and $35 price target on shares of Rambus.
The firm cites an FTC request for the US Supreme Court to hear their complaints against Rambus, noting that "Several years ago the Supreme Court turned down the request for a hearing from the FTC on the matter against RMBS. A similar uphill challenge presents itself for the FTC. The agency would have to make a plea as to how the constitution has been violated and why the lower courts were wrong in their judgment."
BWS believes that Rambus has "a full plate of hearings after Thanksgiving and going into 2009", creating a news flow that Rambus shareholders have been looking for since its victory over Hynix. As the firm sees "very little downside risk" it says it would "not pass up an opportunity to buy Rambus shares at levels under $10..."
Shares of Rambus are currently trading about 14% higher to $6.72. Notably, after setting a new 52-week low at $4.95 on Friday, the stock has rallied more than 36% so far this week.
Rambus, Inc. designs, develops, and licenses chip interface technologies and architectures that are used in digital electronics products.
The firm cites an FTC request for the US Supreme Court to hear their complaints against Rambus, noting that "Several years ago the Supreme Court turned down the request for a hearing from the FTC on the matter against RMBS. A similar uphill challenge presents itself for the FTC. The agency would have to make a plea as to how the constitution has been violated and why the lower courts were wrong in their judgment."
BWS believes that Rambus has "a full plate of hearings after Thanksgiving and going into 2009", creating a news flow that Rambus shareholders have been looking for since its victory over Hynix. As the firm sees "very little downside risk" it says it would "not pass up an opportunity to buy Rambus shares at levels under $10..."
Shares of Rambus are currently trading about 14% higher to $6.72. Notably, after setting a new 52-week low at $4.95 on Friday, the stock has rallied more than 36% so far this week.
Rambus, Inc. designs, develops, and licenses chip interface technologies and architectures that are used in digital electronics products.
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