Barron's reported today that Deutsche Bank analyst Jonathan Goldberg raised his rating on Palm Inc. from "hold" to "buy", increasing his target from $6 up to $10. This gave Palm stocks a quick lift, rising 26 cents in just an hour of opening, up to $7.83. In the past year, prices have ranged from a low of $1.14 (before the Pre was announced), to a high of $9.51 more recently. At the Mobile World Congress in Barcelona, Goldberg stated:
By far the most exciting mobile phone we saw at last week's Mobile World Congress was the Palm Pre. We found a lot of carrier interest in the device as well...Palm has been beaten down for so long that even a modest success could generate significant earnings leverage.
He added that there are "clear signs" that Palm is capable of executing the Pre launch on time and to plan. Forbes also reported on the story, with Goldberg estimating that the Sprint version should be ready to ship "in a month or so", while the European UMTS version seen at the MWC could be ready in six to nine months.
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