Nomura Securities Maintains a 'Neutral' on Motorola Mobility Holdings (MMI); Raises PT

Nomura Securities maintains a 'Neutral' on Motorola Mobility Holdings (NYSE: MMI) price target of $40.00.

Nomura analyst, Stuart Jeffrey, said, "Google’s (Nasdaq: GOOG) offer to buy MMI for $40 per share provides compelling value for MMI shareholders, in our view. As a going business, we value MMI at $22 per share. The $18 premium likely reflects Google’s strategic desire to boost its patent portfolio rather than the likely value of future cash flows arising from MMI’s portfolio. As we believe that this value is only realisable through an acquisition, and rival bids seem unlikely, we recommend MMI shareholders accept Google’s bid rather than hold out for more."

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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