Canaccord Genuity Maintains a 'Hold' on Motorola Mobility (MMI); Results In-line; Google (GOOG) Deal On Track

Canaccord Genuity maintains a 'Hold' on Motorola Mobility Holdings (NYSE: MMI) price target of $40.00.

Analyst, T. Michael Walkley, said, "MMI sold 5.3M smartphones, 200K XOOM tablets, and a total of 10.5M devices in Q4/11 versus our 5.3M/250K/10.5M estimates, or in line with their preannouncement. While our checks indicated sales of its smartphones at North American carriers were mixed during the quarter, we believe Motorola Mobility benefitted from higher-ASP Droid RAZR sales at Verizon (NYSE: VZ)." (Walkley raises FY12 EPS estimate from $0.32 to $0.46)

"We believe the proposed Google (Nasdaq: GOOG) acquisition is on track to close in early 2012. The next milestone is a ruling from the European Commission in February and whether it will approve the merger or proceed to a phase two investigation."

For an analyst ratings summary and ratings history on Motorola Mobility Holdings click here. For more ratings news on Motorola Mobility Holdings click here.

Shares of Motorola Mobility Holdings closed at $38.67 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Verizon prepares network for potential tropical storm; Customer relief through August 31
• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results