Jefferies Expects MSI 4Q To Be In-Line

Jefferies expects Motorola Solutions' (NYSE: MSI) 4Q to be in-line, but fiscal/budgetary headwinds have caused the shares to drift lower since the start of the year.

“Look for guidance to mirror the analyst day guidance,” Jefferies writes. “With few surprises expected, we see the risk/reward as fairly balanced and reiterate our Hold rating and $40 target.

“We believe management has managed expectations well going into the print with guidance likely to be in the parameters set out at the analyst day of 4%ish type Y/Y growth in 2011.”

Motorola Solutions closed Friday at $38.66.