In a report published Friday, Jefferies & Company reiterated its Buy rating on Motorola Solutions (NYSE: MSI), and raised its price target from $60.00 to $67.00.
Jefferies noted, “We are positive on MSI heading into Q4 earnings and are cautious on CRNT and NVTL. We think EMC’s Q4 was not as bad as feared and that IBM will likely have a solid 2013 outlook. For MSI, our checks indicate that Government public safety remained stable despite the Dec 31 narrowbanding deadline. On the macro we see improving U.S. and China consumer demand, lukewarm enterprise spending, and excess PC inventory.”
Motorola Solutions closed on Thursday at $58.04.
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