Evercore ISI initiated coverage of Motorola Solutions with an Outperform rating and $400 price target. Motorola Solutions is well-positioned to sustain high single digit top-line growth and mid-teens EPS growth over the next several years and “do so with limited volatility and high consistency,” the analyst tells investors. While the stock “isn’t cheap,” the firm thinks the premium is justified given that organic growth is better than peers and there could “still be room for upside from here,” the analyst added.
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