Goldman Sachs Downgrades Motorola Mobility Holdings (MMI) to Neutral

Goldman Sachs downgraded Motorola Mobility Holdings (NYSE: MMI) from Buy to Neutral with a price target of $37.

The firm said they see less upside versus the group after yesterday's 55% rise on the takeover by Google. The downgrade is not in relation to a view on the announced acquisition by Google (Nasdaq: GOOG), the firm said.

Commenting on the deal, the analyst notes "the impetus for the deal in our opinion is MMI's intellectual property, which consists of more than 17,000 current and 7,500 pending patents."

For more ratings news on Motorola Mobility Holdings click here and for the rating history of Motorola Mobility Holdings click here.

Shares of Motorola Mobility Holdings closed at $38.12 yesterday.

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