Jefferies Upgrades Motorola Solutions Inc. (MSI) to Buy

Jefferies upgraded Motorola Solutions Inc. (NYSE: MSI) from Hold to Buy and raised their price target from $49 to $55.

The firm states, "Our upgrade is due to: 1) our checks indicate state/local comm equipment spending being up Y/Y despite budget and headcount concerns; 2) we expect MSI to announce a combination of buybacks and dividends when they report on 7/28 pre-open, 3) D Block LTE legislation could pass this fall, providing a strong tailwind to 2013. We introduce 2013 estimates with revenues +11% Y/Y and EPS +20% (St +5% and +11%)."

For more ratings news on Motorola Solutions Inc. click here and for the rating history of Motorola Solutions Inc. click here.

Shares of Motorola Solutions Inc. closed at $44.77 yesterday.

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