Motorola Solutions Inc. (MSI) PT Raised to $520 at UBS

UBS analyst Andrew Spinola raised the price target on Motorola Solutions Inc. (NYSE: MSI) to $520.00 (from $510.00) while maintaining a Buy rating.

The analyst comments "Motorola delivered a solid beat and raise in Q2 into a quarter where there was more skepticism than normal and an elevated short interest. Investors have been concerned that the steep H2 ramp would be difficult to execute against despite the seasonality being typical of the pre-Covid years. The Q2 result and guide should be positive for the stock and reduce concerns about the H2 ramp. We view the slower organic growth in the LMR business as normal following a few strong years that were supplemented by demand that was pushed out due to supply constraints and not indicative of a material change in the business or a slowdown in demand. The growth businesses continue to perform well with Video up 12% and Command up 14%. Silvus continues to be very strong and the company again raised the annual guide to $850M. We expect the stock to react positively to the result and reiterate our Buy rating on MSI and raise our PT to $520 (prior $510). Our new F26/F27 EPS estimates are $17.62/ $18.86 vs prior $16.89/ $18.41."

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