Citigroup Inc. Upgrades Motorola Solutions to “Buy” (MSI)
Motorola Solutions (NYSE:MSI) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $75.00 target price on the stock, up from their previous target price of $65.00. Citigroup Inc.’s price target would indicate a potential upside of 11.76% from the stock’s previous close.
The analysts wrote, “We believe the pension liability could decline to as low as $0.5B at the end of 2013 from $2.8B at the end of 2012 as higher interest rates likely lowered the benefit obligation to $6.5B from $8.3B at the end of ’12, while the strong ’13 equity returns likely boosted plan assets (64% invested in equities) to ~$6.0B from $5.4B, freeing up debt capacity,” the report noted. “We model $1.5B in incremental debt to finance $2.2B/ $1.5B in share repurchases in ’14/ ’15, up from our prior $1.7B/ $0.5B estimates.”
MSI has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Motorola Solutions from $70.00 to $77.00 in a research note to investors on Friday. Separately, analysts at Mizuho initiated coverage on shares of Motorola Solutions in a research note to investors on Tuesday, December 10th. They set a “neutral” rating and a $63.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Motorola Solutions in a research note to investors on Wednesday, November 13th. They now have a $67.00 price target on the stock. Fifteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $63.46.
Motorola Solutions (NYSE:MSI) traded up 1.53% during mid-day trading on Tuesday, hitting $67.11. 2,300,552 shares of the company’s stock traded hands. Motorola Solutions has a 1-year low of $53.28 and a 1-year high of $67.67. The stock’s 50-day moving average is $66.00 and its 200-day moving average is $61.20. The company has a market cap of $17.362 billion and a P/E ratio of 16.73.
Motorola Solutions, Inc (NYSE:MSI) provides mission-critical communication infrastructure, devices, software and services.
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