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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (250072)	7/15/2003 9:13:28 AM
From: MythMan	Read Replies (1) \| Respond to of 436258

doubling the target? >>9:04AM Rambus upped to Buy from Neutral at B. Riley; target $37.50 (RMBS) 18.90: The upgrade is based on firm's view that RMBS will succeed in overcoming the brunt of the charges that the FTC is bringing against it. At a minimum, firm believes the FTC will be unable to restrict RMBS' right to DDR SDRAM royalties. Estimates that RMBS could soon be in the position to collect as much as $420 mln per year in DDR royalties alone (at the RAND royalty rate of 3.5%). At RMBS' 32% tax rate, this represents $286 mln in after tax cash flow, or $2.71 per share. Firm's new price target of $37.50 is based on a 15x P/E on a $2.50 EPS target... (Stock currently trading down 3% in pre-market at $18.34).