Motorola Solutions has 'multi-year growth opportunity' - BofA
BofA analysts initiated shares of Motorola Solutions (NYSE:MSI) with a Buy rating and $330 price target in a note Monday.
The analysts said in a research note that they see Motorola having a multi-year opportunity in public/enterprise safety.
MSI is «well-positioned with multiple tailwinds supporting growth,» said analysts. «The company's focus on public safety and enterprise security merits solid pricing power and a healthy funding environment with the American Rescue Plan Act (ARPA) also drives a sustainable order pipeline.»
Furthermore, BofA believes video security provides a multi-year growth opportunity for the company.
«The video security segment grew 24% YoY in 2022, driven by 28% growth in the segment’s software revenue, and we expect software to drive contribution of video security to 20% of total revenue by 2025, representing solid revenue and margin growth opportunity, and driving robust earnings growth.»
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