UPDATE: Credit Suisse Upgrades Motorola Solutions to Outperform

Credit Suisse raises its rating on Motorola Solutions MSI to Outperform from Neutral and raises its price target to $62 from $49 on capital distributions and healthy fundamentals. Credit Suisse says, "Visibility on solid earnings growth, upgrade to Outperform (from Neutral) with a $62 (from $49) TP. Driven by significant share buybacks, steady fundamentals, and solid execution, we believe that MSI can deliver double digit earnings growth for the next several years. We raise our 2012/2013 EPS by 5%/9% to $3.04/$3.48 to factor in the impact of buybacks. Our new TP is $62 (old $49), and given over 25% upside from current levels, we upgrade our rating to Outperform (from Neutral)." MSI closed at $49.99 a share on Thursday.