Nomura Securities Maintains a 'Neutral' on Motorola Solutions (MSI); Solid Q4, But No Scope For Upgrades
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Price: $343.97 -0.33%
Rating Summary:
18 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
Rating Summary:
18 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Nomura Securities maintains a 'Neutral' on Motorola Solutions (NYSE: MSI) price target of $48.00.
Analyst, Stuart Jeffrey, said, "Solid Q4 results beat expectations primarily on account of lower interest payments and a smaller share count (post buy-backs) limiting the scope for forecast upgrades. Guidance too, provides no scope for earnings upgrades, at least in part due to a 0.7% compression in margins from higher pension payments. MSI’s key attribute is good visibility into its revenue outlook, resulting in consistent performance, which combined with strong cost control is driving strong cash generation. However, this visibility/stability also limits the likelihood of material positive surprises, in our view. Including the pension deficit, MSI is trading on 1.5x 2012E sales, 7.5x EBITDA, 15.6x earnings and 13.2x earnings when adjusted for net cash."
For an analyst ratings summary and ratings history on Motorola Solutions click here. For more ratings news on Motorola Solutions click here.
Shares of Motorola Solutions closed at $44.94 yesterday.
Analyst, Stuart Jeffrey, said, "Solid Q4 results beat expectations primarily on account of lower interest payments and a smaller share count (post buy-backs) limiting the scope for forecast upgrades. Guidance too, provides no scope for earnings upgrades, at least in part due to a 0.7% compression in margins from higher pension payments. MSI’s key attribute is good visibility into its revenue outlook, resulting in consistent performance, which combined with strong cost control is driving strong cash generation. However, this visibility/stability also limits the likelihood of material positive surprises, in our view. Including the pension deficit, MSI is trading on 1.5x 2012E sales, 7.5x EBITDA, 15.6x earnings and 13.2x earnings when adjusted for net cash."
For an analyst ratings summary and ratings history on Motorola Solutions click here. For more ratings news on Motorola Solutions click here.
Shares of Motorola Solutions closed at $44.94 yesterday.
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