Morgan Joseph: PALM Unlikely To Find Strategic Buyer

Analysts at Morgan Joseph reiterate their “sell” rating on Palm (NASDAQ: PALM). The target price for PALM is set to $0.

According to Morgan Joseph, "Despite speculation that Palm has put itself up for sale, we continue to believe that the likelihood of a strategic buyer emerging is minimal.” Although PALM could receive offers from defensive acquirers, “the prospects for the company's survival look grim," the analysts say.

PALM’s shares have risen by 3.58% to $5.51.

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