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B. Riley Keeps 'Buy' on Rambus


B. Riley reiterates buy on Rambus (RMBS).

Analyst Michael Crawford says it's interesting that the Federal Trade Commission is dropping Unocal's gas patent case because, as he understood it, the case against Unocal was stronger than the FTC's case against Rambus, which is fighting a similar antitrust case. Crawford notes an administrative law judge in the Rambus case has a ruling deadline of Dec. 18, but he thinks the judge is likely to rule before then.

He says the current price target for Rambus is about $37.50, but he sees room for upside. Crawford notes, for instance, if Rambus, which makes chip-to-chip interface products, were to collect royalty in the DRAM industry, he could make a case for Rambus earning $4 to $6 per share based on the royalty collection.


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