Analysts Cut Target Price For Palm’s Stock To Hit $0

Posted Mar 20, 2010

Palm, Inc. (NASDAQ:PALM) reported that their results for the third quarter would be worse than expected and the stock fell after that.  Two analysts lowered their price targets for Palm’s stock to $0.  Thats rough. “Palm is essentially an accelerating death spiral.” stated Morgan Joseph & Co. analyst Illya Grozovsky.  “They have had a tremendous problem selling their devices even at carriers like Verizon with 80 million subscribers.” [CNN]