Friday, March 13, 2009

Palm upgraded

RBC Capital Markets equity analyst Mike Abramsky upgraded the Palm to "Outperform" from "Sector Perform" and raised his target price on the stock to $12 from $5. He believes webOS has raised Palm's chances for smartphone leadership.

The Pre phone, the first webOS device and intended as a competitor to Apple's iPhone and Research in Motion's BlackBerry, has generated excitement in the press. Palm plans to launch it in May or June.

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