UPDATE: JPMorgan Upgrades Motorola Solutions Inc. (MSI) to Neutral
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JPMorgan analyst Paul Coster upgraded Motorola Solutions Inc. (NYSE: MSI) from Underweight to Neutral with a price target of $171.00 (from $162.00).
The analyst comments "We are upgrading MSI to Neutral from Underweight. Our prior rating was primarily a valuation-based call; however, with MSI now down ~5% y/y compared to the S&P500 up 16%, we believe risk-reward is now approximately balanced. MSI is bearing down on expenses, acquisitions in adjacencies continue to tilt the business toward longer term growth and higher margins, and potential US stimulus funds may support MSI’s state/local government customer budgets, in our view. Our Dec 2021 price target goes to $171, from $162, based on a revised assigned multiple reflecting higher trading multiples across our coverage."
Shares of Motorola Solutions Inc. closed at $169.83 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesJPMorgan, Standard & Poor's
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