Palm: Cowen Launches Coverage With Outperform Rating

Palm (PALM) shares received a boost this morning from Cowen analyst Matthew Hoffman, who launched coverage of the company with an Outperform rating. Hoffman asserts that the stock can appreciate more than 30 percent over the next 12 months.

Hoffman sees two catalysts for the stock ahead: a refresh of the “once-aging” Treo lineup, with new models based on Windows Mobile 6.1, and the much-anticipated new Palm OS, which he says “should provide increased product differentiation” by the end of the May 2009 fiscal year.

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