Palm Edges Up 6.5% on Initiation

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Palm

(PALM)

was up 6.5% in early trading after

Lehman Brothers

began coverage with a buy recommendation and a 12-month target of $60.

Lehman also started coverage of rival handheld computermaker

Handspring

(HAND)

with a buy and a price target of $90. Handspring was up 3.9%.