Motorola Solutions price target raised by $35 at Morgan Stanley, here’s why

Morgan Stanley analyst Meta Marshall raised the firm’s price target on Motorola Solutions to $335 from $300 and keeps an Equal Weight rating on the shares. The firm, which notes that its networking coverage is down about 3% for the year and lagging every other industry within the technology sector, is upgrading its North American Telecom & Networking Equipment industry view to In-Line as it sees the demand gap as “largely built into valuations.” The firm believes demand will come back in stages throughout 2024, but given inventory digestion, is “mindful it will likely only drive in-line performance for the industry,” the analyst tells investors.