Goldman Sachs Resumes Motorola Solutions Inc. (MSI) at Neutral; Sees Light Sales
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Price: $466.51 +0.32%
Rating Summary:
23 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs resumes coverage on Motorola Solutions Inc. (NYSE: MSI) with a Neutral rating and $66 price target.
While Goldman sees upside from continued buybacks, they believe sales will be somewhat short of Street estimates in 2013, for two reasons: "First, we expect "narrowbanding" to turn from a tailwind in 2012 to a headwind in 2013, and estimate that it will shave off around 130bp of topline growth, limiting upside to estimates in the Government segment. Second, we see modest downside risk in the Enterprise segment, as our analysis suggests that secular (e.g. off-the-shelf competition) rather than cyclical factors drove about 2 points of the segment’s deterioration in 2H2012, and are likely to persist in 2013."
For an analyst ratings summary and ratings history on Motorola Solutions Inc. click here. For more ratings news on Motorola Solutions Inc. click here.
Shares of Motorola Solutions Inc. closed at $63.87 yesterday.
While Goldman sees upside from continued buybacks, they believe sales will be somewhat short of Street estimates in 2013, for two reasons: "First, we expect "narrowbanding" to turn from a tailwind in 2012 to a headwind in 2013, and estimate that it will shave off around 130bp of topline growth, limiting upside to estimates in the Government segment. Second, we see modest downside risk in the Enterprise segment, as our analysis suggests that secular (e.g. off-the-shelf competition) rather than cyclical factors drove about 2 points of the segment’s deterioration in 2H2012, and are likely to persist in 2013."
For an analyst ratings summary and ratings history on Motorola Solutions Inc. click here. For more ratings news on Motorola Solutions Inc. click here.
Shares of Motorola Solutions Inc. closed at $63.87 yesterday.
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