Company News

BUZZ-Motorola Solutions: Shares hit over 11-year high

** Communication device maker’s shares rise as much as 8.6 pct to more than 11-year high of $107.64 in early trading

** MSI to buy Canadian security camera maker Avigilon Corp for C$27 per share, representing an 18.3 pct premium to AVO’s close on Thurs. on TSX

** Deal to expand company’s portfolio with new products for commercial customers

** MSI’s Q4 revenue, profit beat Street, helped by growth across its products and services segments; forecasts adj. profit above analysts’ expectations

** At least 3 brokerages lift PT on MSI, with Jefferies raising to $120 from $110

** 9 of 13 brokerages rate the stock “buy” or higher, 3 “hold” and 1 “strong sell”; median PT $103.50

** MSI rose ~10 pct in 2017 and has gained nearly 17 pct so far this year (Reporting by Amy Caren Daniel in Bengaluru)