Lehman Starts Palm, Handspring With Buy Ratings

Shares of

Palm

(PALM)

received a boost after

Lehman Brothers

initiated coverage on the Santa Clara, Calif., handheld computing company with a buy recommendation and a 12-month price target of $60.

Shares of Palm recently rose $2.50, or 5.8%, to $45.50 in

Nasdaq

trading.

Lehman also started coverage of rival handheld computer maker

Handspring

(HAND)

with a buy and a price target of $90. Shares of Handspring went the opposite direction, trading down $2.63, or 4.1%, to $62.