UBS Downgrades Palm to Sell
In Palm stock market news today, UBS analyst Maynard Um cut his rating on Palm to Sell from Neutral, with an unchanged $5 price target. Palm's stock closed today down 12 cents (~2%) at $5.82.
In his research note Um notes that Palm is on track for some new Treo products in the August and November quarters (?), and cites the ever increasingly competitive mobile landscape including the 3G iPhone and new BlackBerry Bold. He also states that a Palm turnaround still relies on the success or failure of its new Linux product, which he says won't be launched before the first half of 2009 "at the earliest." (via Tech Trader Daily)
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