Thread, I meant to post this earlier. I don't recall seeing it posted.
BancBoston Robertson Stephens Downgrades RMBS to a Long-Term
Attractive Rating from a Buy
SAN FRANCISCO, Sep 24, 1999 (BUSINESS WIRE) -- BancBoston Robertson
Stephens managing director and senior electronics analyst Daniel T.
Niles today downgraded Rambus, Inc. (NASDAQ: RMBS), to a Long-Term
Attractive rating from a Buy.
Rambus designs, develops, licenses and markets high-speed memory
interface technology to enhance the performance of consumer
electronics, computer systems and other electronic systems.
"We are downgrading Rambus to a Long-Term Attractive rating from a Buy,
as we believe that the company's infrastructure for a large-volume
transition to new technology will take longer to build than anticipated,
" said Niles.
"In addition, we believe that the current version of Intel's Camino
chip-set, which supports Rambus, has bugs and could potentially be
delayed yet again," said Niles. "In our view, the slow growth of the
high-end PC market and the spiking DRAM picture is also negative for
Rambus. Especially with the Taiwan earthquake problems and already high
DRAM prices, it is unlikely that PC OEM's would pay even more for
Rambus product."
"We believe that most PC OEMs are now planning to adopt Rambus in
first-quarter 2000 at the earliest," said Niles. "We believe
first-quarter 2000 RDRAM volume for PCs could be 1 to 2 percent."
Clients interested in receiving more information should contact their
salesperson at 415/781-9700.
BancBoston Robertson Stephens, the section 20 subsidiary of BankBoston
(NYSE: BKB), is a leading international investment bank focused on
growth companies in the technology, life sciences and healthcare,
information and business services, retail and consumer products, real
estate, media, telecommunications, broadcasting, and gaming and lodging
sectors.
The firm's 45 equity research analysts cover nearly 700 companies.
Since its founding in 1978, BancBoston Robertson Stephens has raised
over $52 billion in initial public offerings, follow-ons and
convertible offerings. The firm has also assisted in over 400 mergers
and acquisitions transactions valued at more than $77 billion.
BancBoston Robertson Stephens began its high yield securities business
in February 1997 and since that time has completed 69 transactions,
including 15 lead transactions, raising more than $12.6 billion.
BancBoston Robertson Stephens has offices in San Francisco, New York,
Menlo Park, Boston, Chicago, London and Tel Aviv.
The following synopsis is qualified in its entirety by the more
detailed information contained in the full research report, including
the discussion of certain risks associated with an investment in this
security contained in "Investment Risks."
The information contained herein is not a complete analysis of every
material fact respecting any company, industry or security. Although
opinions and estimates expressed herein reflect the current judgment of
BancBoston Robertson Stephens, the information upon which such opinions
and estimates are based is not necessarily updated on a regular basis;
when it is, the date of the change in estimate will be noted.
In addition, opinions and estimates are subject to change without
notice. This Report contains forward-looking statements, which involve
risks and uncertainties. Actual results may differ significantly from
the results described in the forward-looking statements. Factors that
might cause such a difference include, but are not limited to, those
discussed in "Investment Risks."
BancBoston Robertson Stephens from time to time performs corporate
finance or other services for some companies described herein and may
occasionally possess material, nonpublic information regarding such
companies. This information is not used in the preparation of the
opinions and estimates herein.
While the information contained in this Report and the opinions
contained herein are based on sources believed to be reliable,
BancBoston Robertson Stephens has not independently verified the facts,
assumptions and estimates contained in this Report.
Accordingly, no representation or warranty, expressed or implied, is
made as to, and no reliance should be placed on, the fairness,
accuracy, completeness or correctness of the information and opinions
contained in this Report.
BancBoston Robertson Stephens, its managing directors, its affiliates,
and/or its employees may have an interest in the securities of the
issue(s) described and may make purchases or sales while this report is
in circulation. BancBoston Robertson Stephens International Ltd. is
regulated by the Securities and Futures Authority in the United
Kingdom.
This publication is not meant for private customers. The securities
discussed herein are not FDIC insured, are not deposits or other
obligations or guarantees of BankBoston N.A., and are subject to
investment risk, including possible loss of any principal amount
invested.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
CONTACT: BancBoston Robertson Stephens
Press Only:
Erin Freeman, 415/248-4757
Elizabeth Keys, 202/326-1763
TICKERS: NASDAQ:RMBS
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA NEW YORK MASSACHUSETTS ILLINOIS
INDUSTRY CODE: COMPUTERS/ELECTRONICS
COMED
BANKING
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