Palm (PALM) Shares Fall To Four-Year Low
Tweet
Share
E-mailGet Alerts PALM Hot Sheet
Price: $5.69 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Join SI Premium – FREE
Palm (Nasdaq: PALM) has fallen to its lowest level in nearly four years today after reporting disappointing numbers last night and issuing a disappointing forecast.
Palm is down 9.44%% to $5.37. Palm has lost half its value in the last two months, since Palm closed a recapitalization deal with Elevation Partners valued at $325 million. Elevation and Palm are trying to revamp its business in the face of intense competition from the likes of Apple (Nasdaq: AAPL) and Research In Motion (Nasdaq: RIMM).
Citigroup analyst Jim Suva said, "We continue to have concerns regarding Palm's supply chain, internal operating controls, product portfolio and a competitive environment that seems to be outstripping Palm."
Citigroup rates Palm a Sell.
Mike Abramsky of RBC Capital Markets said, "We view Palm as a 'Hail Mary' play, much depending on new products and improving execution to reverse its fortunes."
RBC has a Neutral rating on Palm.
Palm is down 9.44%% to $5.37. Palm has lost half its value in the last two months, since Palm closed a recapitalization deal with Elevation Partners valued at $325 million. Elevation and Palm are trying to revamp its business in the face of intense competition from the likes of Apple (Nasdaq: AAPL) and Research In Motion (Nasdaq: RIMM).
Citigroup analyst Jim Suva said, "We continue to have concerns regarding Palm's supply chain, internal operating controls, product portfolio and a competitive environment that seems to be outstripping Palm."
Citigroup rates Palm a Sell.
Mike Abramsky of RBC Capital Markets said, "We view Palm as a 'Hail Mary' play, much depending on new products and improving execution to reverse its fortunes."
RBC has a Neutral rating on Palm.
You May Also Be Interested In
- Nomura/Instinet Starts Clean Max Enviro Energy Solutions (CLEANMAX:IN) at Buy
- Elastic NV. (ESTC) PT Raised to $107 at Stifel as Sales Revenue Accelerates
- Jefferies Starts Schloss Bangalore Ltd (THELEELA:IN) at Buy
Create E-mail Alert Related Categories
Analyst Comments, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
