Analyst High On Motorola

Author:
Publish date:
Updated on

PaineWebber Inc. analyst Walter Piecyk raised his 2001 earnings estimate and 12-month price target for Motorola Inc., citing expectations for higher revenue growth and margin gains. Piecyk upped his 2001 earnings estimate to $4.55 per share from $4.35. He also raised his 2001 revenue estimate to $46 billion from $42 billion, based on higher growth expectations for Motorola's wireless business and its General Instrument Corp. acquisition. Piecyk raised his price target to $225 per share from $196, based on 50 times the new 2001 EPS estimate. He forecast "greater than 70 percent profit growth this year and 40 percent in 2001."

Related