Motorola Solutions price target raised to $370 from $330 at BofA

BofA analyst Tomer Zilberman raised the firm’s price target on Motorola Solutions to $370 from $330 and keeps a Buy rating on the shares. Motorola Solutions continues to grow its backlog in an environment where hardware and communications equipment vendors are depleting their backlogs, the analyst tells investors. Going into FY24, management implicitly guided to roughly 6% year-over-year growth, but the firm believes the guidance could prove somewhat conservative as it continue to see demand in public safety driving growth.