Jeffries Raises Price Target to $49 on Motorola Solutions (MSI)

Jeffries raises price target from $40 to $49 on shares of Motorola Solutions (MSI)

Jeffries writes, "MSI reported a good Q1, raised 2011 guidance, guided Q2 revs above consensus but EPS below. Importantly, MSI will make an announcement about uses of cash in the next 90 days. Our view remains unchanged: near-term fundamentals appear solid but a fall-off in Federal rainy day funds to states could impact H2. Also, any 700MHz D Block LTE builds will not start until 2012 at the earliest. Reiterate Hold but raise target to $49."

Shares of Motorola Solutions (MSI) closed at 46.66 yesterday.