Palm, Inc. (PALM) Maintains Hold Rating

Analyst Shaw Wu at Kaufman Bros. has released an update on Palm, Inc. (NASDAQ: PALM). The company will, report its third-quarter results on Thursday.

Palm has pre-announced a top-line miss for its third-quarter. The company announced that non-GAAP revenue will be $300-$325 million, below consensus of $425 million. Kaufman expects Palm to report revenue of $310 million and a loss $0.42 in its third-quarter and estimates that the company shipped 825,000 smartphones, 175,000 short of expectations. Kaufman believes that the company will not reach profitability until four to six quarters.

Kaufman Bros. maintained its Hold rating and $7.50 price target for Palm, Inc.