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Over 15% Upside Projected For Motorola Solutions by JPMorgan

March 16, 2023
minute read

In today's financial world, JPMorgan believes Motorola Solutions is the perfect company for long-term investors.

According to analyst Paul Chung, Motorola Solutions is looking more appealing now than it did at the beginning of the year when it was a subset of Motorola Mobility Holdings, a public company. Chung upgraded Motorola Solutions from neutral to overweight, saying the company's business model is attractive.

According to Chung, "the stock in this high-quality stock has retraced back to its levels pre-4Q print, and we took advantage of the general market volatility to establish a long-term position in the stock."

The Motorola Solutions company, which makes video equipment and other software solutions, separated from Motorola Mobility Holdings in 2011 in a move to create a separate company. After Motorola Solutions shares were listed in the NASDAQ in 1984, the company has had only two down years since then, the most recent of which was in 2022 when it fell 5% while the S&P 500 dropped 19%. The price of the shares has increased by about 0.4% since the beginning of the year.

On the other hand, the analyst's $305 price target for this stock, which has been raised from $300 to $305, represents an increase of over 17% from the close of Wednesday. There is a positive movement in the stock in Thursday's premarket trading, as it is up more than 1%.

It is anticipated that Motorola's backlog on an upgrade cycle will remain robust at a record level for the next several years. Furthermore, the company is also exposed to the public safety market as part of its partnership with Axon Enterprise. This sector is considered a more resilient sector due in part to the favorable government funding it receives, says the company's note.

In addition, the analyst also mentioned the firm's competitive position in the market, its ability to expand its product offering through acquisitions, as well as its high-quality earnings, as some reasons for its high ranking on the analyst's list of recommended companies.

According to Chung, the backlog remains at record levels, as the upgrade cycle in LMR continues to be strong. He also notes the level of demand for video analytics solutions across multiple industry verticals remains strong. "We anticipate MSI to outperform its industry average over the next 12 months, which is well above the mean of our coverage."

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John Liu
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