<div><p>NEW YORK (Reuters) - Palm Inc shares jumped 10 percent on Friday after the company announced it will sell smartphones through top U.S. mobile carrier, Verizon Wireless, a deal that analysts said could mark the beginning of a turnaround for the handset maker.</p><p>The step toward wider distribution, announced at the Consumer Electronics Show in Las Vegas, was not surprising, but analysts said it was still good news.</p><p>They also said the company's move to expand its webOS software development would help it compete in an increasingly competitive smartphone market.</p><p>"Palm's growing global distribution and developer momentum are a clear signal to us of Palm's unique strengths and differentiation amidst competition, and bodes well for future smartphone leadership," RBC analyst Mike Abramsky said in a research report.</p><p>Verizon Wireless is a joint venture between Vodafone and Verizon Communications.</p><p>Abramsky reiterated an "outperform" rating and $25 target on Palm shares, which rose $1.12 to $12.30 by mid-afternoon.</p><p>Palm in December reported a wider-than-expected quarterly loss amid strong competition and slow sales through its carrier partner Sprint Nextel.</p><p>Palm's shares are extremely volatile and have been a favorite of short-sellers. The company is frequently mentioned as an acquisition target.</p><p>(Reporting by Ritsuko Ando; editing by John Wallace)</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=66564851&bid=informcom" /></div><div id="copyright"><div>

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