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Telecom & Wireless

Goldman Sachs Drops Motorola (MOT)

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By Douglas A. McIntyre Updated Published
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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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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