Moto: Morgan Keegan Sees Upside Post Phone Spinoff

Shares of Motorola (MOT) are up eight cents, or 1.2 percent, at $6.86, after Morgan Keegan analyst Tavis McCourt this morning writes to clients that he’s taken a “deep dive” into Moto, after spending six hours with company management yesterday, reiterating an “Outperform” rating on the stock and a range of valuations from $7 to $12 depending on the progress of the mobile devices unit, which Moto is planning to spin off.

So-called Enterprise Mobility, which comprises sales of voice and data networking equipment, wireless networks and industrial-strength radio systems, will comprise about 70 percent of sales and 80 percent of cash flow once the company spins out handsets, which is expected to take place early next year.

The unit could have sales growth of five to eight percent, or better than that if Congress funds a proposed nationwide wireless network for emergency medical services and other “first responders.”

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