Motorola Solutions price target raised to $530 from $440 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Motorola Solutions (MSI) to $530 from $440 and keeps a Buy rating on the shares. The firm updated the company’s model post the Q3 report. Deutsche continues to view Motorola Solutions as the top defensive pick in its coverage, saying a near-record backlog and improving revenue mix provide greater visibility into the durability of its multi-year earnings and free cash flow growth. The company is selling into a “very healthy” demand backdrop underpinned by its 75% exposure to public safety, the analyst tells investors in a research note.