Analyst Tim Long sees double-digit bottom-line growth, helped by the Airwave acquisition and the management's diligence in taking expenses out of the business. The analyst also believes the company will benefit from investing in smart public safety software opportunities, giving it leeway to expand beyond traditional equipment sales.
BMO Capital Markets is also of the view that the pending FirstNet decision due in November will open the doors for growth in public safety LTE, which had slowed due to government regulation. The firm expects the company to benefit from sales opportunities for services and hardware due to its investment in the LTE-LMR inter-operability.
Accordingly, the firm sees multiple expansions. However, the firm maintains its estimates for Motorola Solutions.
As such, BMO Capital Markets raised its rating on the shares of the company to Outperform from Market Perform and increased its price target to $84 from $72.
At time of writing, shares of Motorola Solutions were up 0.27 percent at $73.70.
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