Morgan Stanley Downgrades Motorola To Equal Weight

According to Morgan Stanley, Motorola Solutions

is downgraded to equal weight. Morgan Stanley said that its new prop analysis implies that the public safety LTE opportunity, which provided the path from its $45 PT to its $55 Bull case, may be more of a LT call option than a near or med-term earnings driver. “Separately, we are adjusting our estimates to reflect the $540M debt tender and the $975M Networks sale, as well as other adjustments to below the line items.” Motorola Solutions closed yesterday at $44.14.