Lehman Brothers today it cut its rating on Handspring to buy from strong buy.
Analyst Joseph To predicted pricing on the low end of the product spectrum will become more aggressive as the company and rival Palm seek to move inventory through seasonal promotions for graduations and Father's Day
"We believe Handspring may look to take a more proactive approach to the situation after having been held hostage to Palm's pricing actions over the last month," Joseph To stated.
Handspring were down $3.10 as of mid-day trading.
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