Rambus price target raised to $172 from $119 at Evercore ISI

Evercore ISI raised the firm’s price target on Rambus (RMBS) to $172 from $119 and keeps an Outperform rating on the shares. The firm increased its 2027 and 2028 EPS estimates to $5.76 and $9.06, respectively, from $3.73 and $4.50 and recommends buying weakness with shares trading 12% lower following “an EPS miss/miss report.” The firm expects the secular tailwinds related to Agentic-AI for CPUs highlighted in its channel checks to manifest themselves over the next several quarters, the analyst tells investors.