JP Morgan Maintains Overweight Rating on Motricity

A report from J.P. Morgan reiterates its Overweight rating on Motricity MOTR. The report states, “Results had a lot of noise from management taking a more conservative stance on its business processes. In particular, if we factor in the change to more conservative revenue recognition at XL Axiata, the actual managed services revenue activity was in line with our estimates. While pushing out the loan to June from March 2012 on the surface may appear negative for those looking for nearterm strategic action, we do think it adds some flexibility for management to make operational changes necessary to maximize value.” MOTR closed yesterday at $1.61.