Morgan Joseph upgrades Palm (NASDAQ: PALM) to Buy with a $6.50 price target, following the intro of the Palm Pre.
The firm said, "Yesterday, Palm introduced what we believe is an attractive and long-awaited Smartphone, and a new OS. Dubbed the "Palm Pre", the device is fully equipped with a touch screen, slide-out keyboard, 8 Gb of memory, and music download capabilities, among other features. We were equally impressed with Palm’s new OS, called "Palm webOS." Palm webOS offers full integration of information from web-based applications such as Facebook, Outlook, and Google and the ability to present the information in an organized view on the phone.