Goldman Sachs: Time To Sell Motorola Solutions

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In a report published Tuesday, analysts at Goldman Sachs downgraded
Motorola Solutions, Inc.MSI
from Neutral to Sell. The price target was lowered from $66 to $57. "[W]e see downside to both Street estimates and the multiple due to the public safety industry's move to LTE, which started late last year and will ramp over the next several years," the analysts said. Although the company has positioned LTE to capitalize on revenue opportunities, Goldman Sachs expects any potential disruption in LTE to lead to a decline in pricing power, while attracting new entrants into the market where the company currently dominates. "Near term, we expect it could also dampen demand for MSI's legacy products, as customers evaluate longer-term roadmaps to LTE," the analysts added. Goldman Sachs expects a 4 percent revenue decline for the company in 2015.
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Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsGoldman Sachs
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