If you can imagine it, Motorola (NYSE: MOT) has actually performed well off its lows. But it has also performed well enough that Goldman Sachs is downgrading the troubled handset maker. The $7.00 price target remains, but the analyst team at Goldman took the rating down to Neutral from Buy based upon the belief that the full recovery has already been priced in at the current prices.
This takes into consideration of the new Android-based cellphones and other new launches that are not until the fourth quarter. Goldman Sachs does believe that continued hand set and market share declines are likely.
The “valuation call” is on the 50%+ gains versus that of the S&P 500 of 16% from January. We have shares down about 5% at $6.28 in active pre-market trading. Its 52-week trading range is $2.98 to $10.50.
Jon C. Ogg
July 16, 2009
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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