(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation and its target price of 335 dollars on Motorola Solutions, after a visit to the headquarters of the telecom equipment manufacturer in Chicago last week.
After time spent with its executives, including CEO Greg Brown, the broker says it remains ‘very enthusiastic about the risk/reward balance of the stock’ and continues ‘to believe that the model has significant long-term upside potential ‘.
‘Unsurprisingly, the group sees continued strength from state and local spending, and emphasizes that inflation, while generally viewed as negative in an economy, is good for Motorola,’ Jefferies said.
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