UPDATE: Morgan Keegan Lowers PT on Motorola Solutions to $49

Morgan Keegan has published a research report on Motorola Solutions MSI and has lowered the price target from $51 to $49. In the report, Morgan Keegan writes, "We are lowering our EPS estimates for 2012 to account for higher pension expense as a result of lower corp. bond yields throughout 2011. MSI management has noted that each 50 bps decline in corp. bond yields creates an additional $40 million in annual expense, and $400-$500mm in additional pension liability. Given the roughly 80 bps decline in corp. bond yields during 2011, we are adjusting our 2012 estimates to account for the added expense. Our non-GAAP EPS estimate for 2012 is now $2.63 down from $2.77 previously, and slightly up Y/Y." Morgan Keegan maintains its Outperform rating on Motorola Solutions, which is currently trading up $0.54 from Friday's $46.29 closing price.