Markets & Finance

JP Morgan Keeps Motorola as 'Long Term Buy'

JP Morgan keeps long term buy on Motorola (MOT).

Analyst John Dryden he believes Motorola will now meet or beat its $6.4 billion second quarter revenue forecast; he had a $6.39 billion estimate. He notes on the bottom line, the company said it would meet its $0.04 loss estimate vs. his $0.03 loss estimate.

Dryden says Motorola reaffirmed 2002 guidance for revenue down 5%-10%, and said it will meet or beat its $0.04 earnings per share estimate, and notes the Street's estimate is at $0.03, whiles he's at $0.06. Dryden also says Motorola believes it increased its phone share by 1%, but does not think Nokia's share gain came at its expense.

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