Rambus (RMBS) - Eagle or Penguin Message Board

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Technology Stocks : Rambus (RMBS) - Eagle or Penguin

RMBS 94.23

-1.4%

Dec 1 3:59 PM EST

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To: Barry Grossman who wrote (24795)	7/15/1999 10:33:00 AM
From: Robert Douglas	Read Replies (1) of 93625

From Hambrecht & Quist: We are upgrading Rambus to a BUY rating based on two key catalysts: the late September Direct RDRAM launch appears on track; and DRAM pricing appears to be trending up for the first time in over a year. Improved investor confidence In a strong DRAM cycle should directly benefit Rambus shares in terms of near- term appreciation. The company reported solid Q3 FY99 results yesterday, and management expressed a bullish outlook. We are setting a 12-month target price of $125, based on a multiple of 35x our new CY 2001 EPS estimate of $3.61.

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