Morgan Joseph Upgrades Palm, Inc. (PALM) to Hold; HP Throws Palm a Life Preserver
PALM Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Morgan Joseph upgrades Palm, Inc. (Nasdaq: PALM) from Sell to Hold.
Morgan analyst says, "Last night, Palm announced Hewlett-Packard's (NYSE: HP) intention to acquire the company for $5.70 per share of common stock. The transaction values the company at a $1.2bn enterprise value based on the numbers at the end of February. We believe HP may end up paying $1.4bn in equity value based on our projected cash balance for Palm of approximately $350mm by the expected close of the transaction, HP's F3Q10 ending July 31, 2010."
To see all the upgrades/downgrades on shares of PALM, visit our Analyst Ratings page.
Palm, Inc. (Palm) is a provider of mobile products for individual users and business customers worldwide.
Morgan analyst says, "Last night, Palm announced Hewlett-Packard's (NYSE: HP) intention to acquire the company for $5.70 per share of common stock. The transaction values the company at a $1.2bn enterprise value based on the numbers at the end of February. We believe HP may end up paying $1.4bn in equity value based on our projected cash balance for Palm of approximately $350mm by the expected close of the transaction, HP's F3Q10 ending July 31, 2010."
To see all the upgrades/downgrades on shares of PALM, visit our Analyst Ratings page.
Palm, Inc. (Palm) is a provider of mobile products for individual users and business customers worldwide.
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