Motorola (NYSE:MOT) Split Remains on Track, MMI Model Presented

The process of splitting into two companies by Motorola (NYSE:MOT) remains on track, says Canaccord Genuity, and they gave their model for MMI.

Canaccord said, "Motorola announced it will separate into two publicly traded entities on January 4, 2011, and we are encouraged this separation remains on track. We are introducing our standalone MMI model and also introducing our overall MOT 2012 estimates...As such, we are introducing our stand-alone MMI model with estimates through 2012. Based on the 8-for-1 stock split for MMI resulting in roughly 294M shares, we are introducing our 2011 pro forma EPS estimate of $1.24 and our 2012 estimate of $1.78...We have also updated our combined MOT model and are introducing our 2012 pro-forma EPS estimate of $0.63."

Canaccord Genuity maintains a "Hold" rating on Motorola (NYSE:MOT), which was trading at $8.86, down $0.02, or 0.17 percent, as of 12:14 PM EDT. Canaccord has a price target of $9 on them.