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Motorola Rises After Credit Suisse Says Mobile-Phone Division Recovery Was Imminent (MOT, GOOG)

Sep 01, 2009 (SmarTrend(R) News Watch via COMTEX) --

Companies: Google Inc (GOOG), Motorola, Inc. (MOT)

9/1/2009-Shares of Motorola (NYSE:MOT) are trading 3.5% higher Tuesday after the mobile-phone maker's stock rating was raised to "outperform" from "neutral" at Credit Suisse, saying that a recovery at the company's mobile-phone division was imminent and the unit should approach break-even by year's end. The bank raised its target price to $9.50 from $7.00. The company is scheduled to launch a number of new smart phone models in Q4, all of which are based on Google's (NASDAQ:GOOG) Android software. Credit Suisse also raised its industry wide forecast for 2009 smartphone sales by 11% to 176 million units and its 2010 estimate went up 19% to 223 million units. CS expects the smart phone market to reach 1.5 billion phones total, eventually.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Companies: Google Inc (GOOG), Motorola, Inc. (MOT)


Related terms: market, nasdaq, nyse, sales, securities, software

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