And the $PALM saga continues this morning with a bold call out of RBC saying the company could be worth anywhere from 10 to 14 in a takeover now that it’s being shopped around. RBC is way above the consensus view that Palm is only worth $6-$7 primarily due to the potential strategic value of the WebOS operating system that may be coveted. Analyst Mike Abramsky sees Hewlett Packard ($HPQ) as the ideal acquirer.
It should be noted that Abramsky has been dead wrong on Palm (read: bullish), but this outlier is interesting nonetheless. As we dicsussed on my show Stock Wars Wednesday night, there is an activist fund, Harbinger Capital Partners, that has just disclosed a 10% stake in Palm. A piece of research like this is probably music to their ears as they seek to make sure that the company doesn’t get sold for a pittance.
The phenomenal website Notable Calls has the rest of the details of this report…
Full Disclosure: I currently have no position in PALM, long or short, for either client or personal accounts.