Citi Upgrades Motorola Solutions Inc. (MSI) to Buy

Citi upgraded Motorola Solutions Inc. (NYSE: MSI) from Neutral to Buy with a price target of $93.00.

Analyst Stanley Kovler comments "We are upgrading MSI to Buy with a $93 TP largely driven by slight growth of product revenue and likely above Street FY17 guidance on Q4’16 earnings. We expect product revenue growth to return to low-single digits range for 2017 after 4 years of declining product revenue, largely driven by growth in North America. First Net delays in finalizing winning bid and getting states to opt in / opt out is just a matter of timing, as we believe Motorola is well positioned with AT&T to participating the likely winning group that is currently the only group in the “competitive bid” range. Where could we be wrong? In the near-term as states remain in flux with respect to FirstNet selection, the Rivada lawsuit holding up FirstNet process could lead to temporary pause in network planning / deployments in North America, impacting backlog."

For an analyst ratings summary and ratings history on Motorola Solutions Inc. click here. For more ratings news on Motorola Solutions Inc. click here.

Shares of Motorola Solutions Inc. closed at $82.36 yesterday.

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