JP Morgan Keeps Motorola as 'Long Term Buy'

Analyst John Dryden says the wireless phone maker will meet or exceed its top and bottom line estimates

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.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE