Canaccord Genuity Maintains a 'Hold' on Motorola Mobility Holdings (MMI); Reports in-line Q1/12; Google Acquisition Still on Track

May 2, 2012 10:37 AM EDT
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Price: $25.76 --0%

Rating Summary:
    4 Buy, 26 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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Canaccord Genuity maintains a 'Hold' on Motorola Mobility Holdings (NYSE: MMI) price target of $40.00.

Analyst, T. Michael Walkley, said, "MMI reported Q1/2012 results with sales of $3.1B and pro forma LPS of $(0.03) versus our $2.84B and $(0.04) estimates. Better smartphone units and blended handset ASPs combined with strong Home sales and margins resulted in the upside to our estimates. Due to the pending Google (Nasdaq: GOOG) acquisition, Motorola Mobility did not host a conference call or provide guidance."

"Based on the Q2/2012 results that included better smartphone sales and ASPs
combined with stronger Home margins, we are increasing our 2012 pro forma EPS estimate from $0.46 to $0.59."

For an analyst ratings summary and ratings history on Motorola Mobility Holdings click here. For more ratings news on Motorola Mobility Holdings click here.

Shares of Motorola Mobility Holdings closed at $38.76 yesterday.

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