Motorola falls on downgrades, market share worries

Motorola Inc (MOT.N: Quote, Profile, Research) shares slumped 7 percent on Monday to their lowest levels in five years after analysts downgraded the mobile-phone maker on fears it cannot staunch market share losses in North America.

Piper Jaffray analyst T. Michael Walkley cut his rating on Motorola shares to "sell" from "neutral," and his price target to $7 from $9.75 on concerns about falling market share.

"Our checks indicated declining Motorola sell-through trends at all four major North American carriers," he wrote.

Read Full Article from Reuters

- Posted: 2008-06-23 21:24:56

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