Wells Fargo analyst Aaron Rakers raised the firm’s price target on Rambus (RMBS) to $115 from $73 and keeps an Overweight rating on the shares. The firm notes the company delivered solid Q3 results. However, with shares up +77% since Q2 results and trading at 31-times its increased 2027 EPS, Wells is not surprised to see some pullback. The firm would be a buyer, especially during a pullback.
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