Palm’s stock has been on an insane hike recently: and it looks like the rally will continue. The boys in Orange just got their stock upgraded by RBC Capital…the relevant bits are below:
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Palm (PALM) shares received a boost this morning from RBC Capital analyst Mike Abramsky, who raised his rating on the stock to Outperform from Sector Perform.
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Abramsky says there is room in the smartphone market for Palm to compete with Apple (AAPL) and Research In Motion (RIMM). “Palm is developed end-to-end smartphone software and hardware, providing a superior user experience, which we believe can offer a compelling alternative to iPhone,” … He contends the company already has plans for additional Web OS based devices beyond the Pre.
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Abramsky now expects Palm to sell 2.6 million Web OS-based handsets in the May 2010 fiscal year, up from 2.2 million; he sees the total jumping to 4.1 million in FY 2011.
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Further information can be had at barron’s.com!
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