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Rambus initiated with an Overweight at Wells Fargo
The Fly

Rambus initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Rambus (RMBS) with an Overweight rating and $62 price target The company is strategically positioned to benefit from increasing data center memory complexity, companion chip expansion, and a significant content increase in new MRDIMMs, the analyst tells investors in a research note. The firm thinks Rambus’ position as an expanding data center memory interface chipset provider has been overshadowed by the focus on high bandwidth memory demand and concerns around DDR4 oversupply. It believes the company is well positioned in an “underappreciated” growth total addressable market.

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