Palm "buy," estimates raised

05/12/06 - Nollenberger Capital

NEW YORK, May 12 (newratings.com) - Analyst Casey Ryan of Nollenberger Capital partners reiterates his "buy" rating on Palm, Inc (PALM), while raising his estimates for the company. The target price is set to $35.

In a research note published yesterday, the analyst mentions that Palm 700w could be launched with the carrier in July or August of 2006, earlier than the expectation of a launch through Verizon in January 2007. Palm’s Treo is the best smartphone device in the market, the analyst says. The company’s links with Microsoft and wireless carriers are likely to help Treo to be deployed and used more widely than its competitors, Nollenberger Capital adds. The EPS estimate for FY07 has been raised from $0.98 to $1.08.