Research Alert: CFRA Maintains Hold Opinion On Shares Of Motorola Solutions, Inc.
11:40 PM EST, 02/07/2021 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
We raise our 12-month target price by $20 to $190, 22.0x our '21 EPS estimate, a slight premium to peers, reflecting our strong demand expectation and benefits from acquisitions. We trim our '21 EPS estimate by $0.02 to $8.62 and set '22's at $9.56. MSI reported Q4 operating EPS of $2.86 vs $2.94, $0.12 above consensus. Q4 revenue declined 4%, driven by a 10% drop in Products and Systems Integration, due to lower sales of public safety land mobile radios and lower professional and commercial radio, partially offset by an 8% growth in Software and Services, driven by land mobile radio services, video security, and command center software. MSI reported a record backlog at $11.4B, driven by growth in Software and Services on a number of multi-year agreements in North America, partially offset by a decline in Products due to delays in sales engagements related to Covid-19. We expect MSI will continue to push into security and will look to make additional acquisitions.