Jefferies raised the firm’s price target on Rambus (RMBS) to $75 from $69 and keeps a Buy rating on the shares following a June quarter beat on stronger product and contract revenues. The companion chip story is starting to contribute more significantly with growth into Q3 split relatively evenly between DDR5 and new products, the analyst tells investors in a post-earnings note. The line of sight to outsized growth “still requires execution” on gaining companion chip share, but “everything remains on track,” the analyst added.
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