Motorola Solutions (NYSE:MSI) EPS, PT Lowered on More Disclosure

Motorola Solutions Inc. (NYSE:MSI) had their EPS estimate and price target lowered by Barclays (NYSE:BCS), citing several discrepancies in financial statements of the company.

Barclays says, "Modest Discrepancies Across Line Items Drives a Significant Step Down in EPS: In reviewing the company's historical pro-forma financial statements, a few discrepancies between our previously published estimates exist. While there was no one major inconsistency, modestly lower gross margins, higher opex, interest expense and taxes in totality drove a significant step down in EPS. Our new 2010, 2011 and 2012 EPS estimates are $1.94, $2.28, and $2.59, respectively vs. $2.59, $2.36, and $2.85, previously. As a result, our new price target is $41. We retain our -18x FY11 and -16x FY12 multiples."

Barclays reiterates an "Equalweight" rating on Motorola Solutions Inc. (MSI), which closed at $38.70, up $0.04, or 0.10 percent. Barclays lowered their price target on Motorola from $43 to $41.