Rambus price target raised to $150 from $130 at Rosenblatt

Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Rambus (RMBS) to $150 from $130 and keeps a Buy rating on the shares following the Q1 report. Rambus recovered from last quarter’s supply chain issues to deliver revenue inline with expectations, the analyst tells investors in a research note. However, the firm believes the inline results will likely not support the 90% rally in the shares over the past month. It believes Rambus’ long-term growth story remains intact.