Palm oil is extremely healthy. It is closely related to coconut oil, which all of my students know I am a proponent of. Palm oil is nearly identical molecularly as coconut oil, therefore it has all of the same health benefits.
You need to be careful that that the palm oil is the pure form, and not fractionated. Fractionation is a further phase of coconut oil or palm oil processing, designed to extract and concentrate specific fatty acid fractions. Fractionated coconut or palm oil is used for the convenience of manufacturers who like its stability and melting characteristics. The healthful aspects of natural coconut or palm oil are largely lost in the process. I've noticed that fractionated palm oil is a common ingredient in many power bars sold in health-food stores.
You should only eat organic, expeller pressed or extra virgin coconut or palm oil.