Kaufman Bros Starts Palm (PALM) at Hold, Sees As Possible Takeover Bait
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Kaufman Bros. initiated coverage on Palm (Nasdaq: PALM) today with a Hold rating and $16 price target, according to Barron's Tech Trader Blog. The firm cited valuation and a weak balance sheet. The firm does think Palm is well-positioned with its webOS software and hardware.
Kaufman's analyst also said Palm would be a great strategic acquisition for a larger company like Nokia (NYSE: NOK), Samsung, LG, Motorola (NYSE: MOT), Hewlett-Packard (NYSE: HP), Cisco (Nasdaq: CSCO), Microsoft (Nasdaq: MSFT) and Dell (Nasdaq: DELL), which could leverage Palm's WebOS software.
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