Motorola Solutions price target raised to $440 from $370 at BofA

BofA raised the firm’s price target on Motorola Solutions to $440 from $370 and keeps a Buy rating on the shares. Video security represents Motorola Solutions’ fastest-growing segment and management expects video security revenue to account for about 18% of revenue in 2024, up about 10% year-over-year, the analyst tells investors. The firm raised its multiple as it sees further expansion into video security and software driving opportunity for consistent revenue growth and margin expansion.