According to a post on money central, shares in Palm Inc rose to their highest level for more than a year on Monday due to an analysts report stating the launch of the Sprint branded Palm Pre smartphone in on target for early June.

The figures show Palm shares rose some 80 cents which is 7.1 percent to $12.10 which is its highest since October of 07.

Palm is said to be launching the new Palm Pre with Sprint Nextel Corp before June is out and the latest rumours have it that the pre will surface on June the 6th.