Hudson Square Research Launches Palm at Hold, RIM at Buy
Hudson Square Research analyst Daniel Ernst today launched coverage of both Palm (PALM) and Research in Motion (RIMM).
- Ernst started coverage of Palm with a Hold rating, asserting that without a dramatic shift in demand, the company will run out of cash by the end of its May 2011 fiscal year. He notes that despite critical praise for WebOS, “neither the Pre nor its sibling the Pixi has found commercial success.” That said, he still things the company should attract significant interest from strategic buyers, whether from handset makers using third-party software or from PC makers seeking to make a move into handsets.
