Deutsche Bank Said Palm Pre (PALM) Sees Continued Progress

Deutsche Bank comments on Palm (Nasdaq: PALM) today, saying the Palm Pre progress continues. The firm said they continue to hear positive data on the status of the Palm Pre on their checks.

The firm said, "timing of the launch remains unclear, but we continue to expect availability of the Pre by late May/early June if not earlier."

Deutsche Bank also said they believe the device is stable, despite grumbling in the press. The analyst said, "We have handled the device personally and found it to be fully functional and highly appealing. Issues that may be holding up an earlier launch data include final discussion of which applications to pre-install on the device and stability of some of these applications. We view these as minor issues which should be resolved shortly."

The firm said developer interest in Palm's WebOS platform remains high, as evidenced by positive press and blog coverage of the latest development in the Mojo SDK.

Despite the recent advance of the stock, Deutsche Bank said Palm continues to offer upside potential. The firm thinks the Pre could be just the first chapter in Palm's turnaround. Deutsche Bank is maintaining their Buy rating and $12 price target on Palm.

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