Nomura Securities Maintains a 'Neutral' on Motorola Mobility (MMI); Cutting Estimates; Share Declines Continues Until Strategy Unfolds

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

Analyst, Stuart Jeffrey, said, "Revenue missed our forecast by 2%, gross margin missed by 50 bps and adjusted EPS missed by 12¢. Home revenues beat by 10% while Mobile Phone revenues missed by 6%...It remains unclear to us what Google’s (Nasdaq: GOOG) strategy for MMI is if the acquisition closes. In the absence of a clear strategy, we model further smartphone share declines for MMI long term, given a lack of clear differentiation across the product portfolio. Exclusive access to new versions of Android could, of course, change MMI’s market share outlook, but Google has publicly stated that MMI will be run at arm’s length."

After a strong Q1, Nomura cuts FY12 EPS to (0.29) from $0.44 and FY13 to (0.45) from $0.68.

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 $39.13 yesterday.

---

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

---

You May Also Be Interested In

• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
• SoundThinking (SSTI) PT Lowered to $8 at Cantor Fitzgerald
• KinderCare Learning Companies (KLC) PT Lowered to $4.50 at UBS