According to Thomson Reuters data, there are eight analysts rating Palm shares a "buy." Three months ago, there were only two analysts in the buy camp. One analyst calls Palm a "strong buy." Thirteen analysts call Palm a "hold."
On Wednesday, Deutsche Bank upped Palm's price target to $12 and reiterated its "buy" rating.
Friday, March 27, 2009
The Prē lifts Palm in the eyes of Wall Street analysts
Everyone thought Palm was going down for sure when there was no new smartphone introduce before the company finally revealed the Prē™ at CES 2009 early this year, but for the company that pioneered the path of PDA into our digital lifestyle is still rated as the sixth most heavily shorted company; according to Wall Street Journal data.
But even with gloomy stock value at Palm's camp, the analysts at Wall Street are betting that high demand for the Prē™ will once again make Palm become a strong player in the industry. Here's the rest of the encouraging news as quoted from Larry Dignan (ZDNet's editor in chief):
Palm CEO Ed Colligan along with other executives have delivered confident at the company's third quarter earnings conference call in launching the Prē™ right on schedule, Larry says: "Traders, however, are anything but confident about Palm's prospects." That's true, but there's someone else: Palm fans all around the world who have been waiting for Palm to rise again. You go Palm! Don't you dare disappoint us (again)... ;-)