UPDATE: Nomura Upgrades Motorola Solutions
In a report published Thursday, Nomura analyst Stuart Jeffrey upgraded Motorola Solutions (NYSE: MSI) to Buy from Neutral, raising its price target to $72.00 from $65.00.
According to the report, the upgrade follow the view that MSI is a solid and steady performer with buybacks alone driving EPS by 10-11 percent a year.
“Cash returns are further boosted by a two percent dividend yield,” the report noted. “With a disappointing Q1 outlook, we view the stock's five percent correction yesterday as an entry opportunity. While upside is likely limited, we expect it to be consistent and long-term in nature. For 4Q, MSI beat expectations for revenue, net income and EPS in Q4 despite setting targets that appeared challenging. However, Q1 targets disappoint. Smaller pension liability boosts scope for further cash returns. We view MSI as an attractive investment for value and return driven investors in particular.”
MSI closed Wednesday at $64.51 with shares trading down at 3. 87 percent.
Latest Ratings for MSI
|Feb 2017||Gabelli & Co.||Upgrades||Hold||Buy|
|Oct 2016||BMO Capital||Upgrades||Market Perform||Outperform|
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