Memory Corp soars on buy note

Limited Competition

Shares in Memory Corp have soared by more than a third in two days, following a buy recommendation from BancBoston Robertson Stephens. Memory Corp's share jumped from 15p to 21.5p on the buy note, But BancBoston analyst Andrew Griffin reckons there is plenty of upside to come. He has set a six-month target of 50p. According to Griffin, Memory Corp has "the fastest write speed flash memory controller technology. This product will be sold into the high growth flash card market. In our opinion, limited independent competition makes this a very attractive business proposition in the medium term." Griffin expects Memory to return to profit in 1999. He forecasts PBT of £3.186 million for the year to December end 1999. This year he is forecasting losses of £1.274 million.®: For more stories click here

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