Rambus price target raised to $145 from $120 at Jefferies

Jefferies analyst Blayne Curtis raised the firm’s price target on Rambus (RMBS) to $145 from $120 and keeps a Buy rating on the shares and would buy on weakness as the firm argues the long-term thesis remains intact. Q1 results were “solid,” while June quarter product revenue guidance came in shy of elevated expectations, but demand remains healthy, supply tightness is a near-term limiter, and companion chips are scaling, the analyst added.