Barclays Maintains an 'Equalweight' on Motorola Mobility (MMI); Improving Device Portfolio; Weaker Home

Barclays maintains an 'Equalweight' on Motorola Mobility Holdings (NYSE: MMI) price target of $40.00.

Barclays analyst says, "The Mobile Device portfolio continues to improve - if more slowly than hoped - with the BIONIC, RAZR, and the forthcoming Xoom 2, and ATRIX 2, among others. Home revenue outlook however remains weak, despite solid margins, estimates decline. The acquisition process is ongoing and subject to regulatory approval is expected close in late 2011/early 2012."

"F3Q beat implies a less but still aggressive 4Q ramp assuming full-year guidance is intact: Management did not comment on full-year guidance of $0.48-0.60. An expanding 4G portfolio (RAZR, Xoom 2), and continued international traction should support growth. However late quarter launches should limit the benefit during the quarter. We reduce our F4Q EPS to $0.41 from $0.47. Our 2012 estimate declines to $1.36 from $1.45."

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 $39.02 yesterday.

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