Piper Jaffray Reiterates an 'Overweight' on Palm (PALM); Channel Checks Indicate Steady Sales
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Piper Jaffray & Co. reiterates an Overweight rating on Palm, Inc. (Nasdaq: PALM), price target $24.
Piper analyst says, "Our channel checks at Sprint (NYSE: S) indicated steady sales of the Palm Pre in October, with the Pixi on track to launch in November. Our checks in Europe indicated the Palm Pre sold well at multiple carriers in Europe...We believe Palm is on track to ramp sales of the WCDMA version of the Pre in Western Europe, launch the Pixi at Sprint in November and launch multiple devices at Verizon and other carriers in 1H 2010. As such, we anticipate solid Pre sales in the near-term and ramping webOS smartphone sales longer-term."
To see more analyst ratings on PALM Click Here.
Palm, Inc. provides mobile products for individual users and business customers worldwide.
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