- In an interview, Motorola Solutions Inc (NYSE:MSI) CEO Greg Brown told CNBC that demand for the company’s public safety and enterprise security products has never been stronger.
- Brown indicated strong business despite concerns of a slowing global economy, saying a major upgrade cycle is underway.
- “What we do is a need to have, not a nice to have. This is the strongest demand environment I’ve ever seen,” said Brown.
- Also read: 3 Ways Motorola Solutions Stock Could Cross $300.
- Brown told Jim Cramer there’s a private-network radio upgrade cycle that will boost the company’s business in the coming years.
- “Those radios refresh every seven years. And we’re in the first or second inning radio refresh here in North America — so New York, Chicago, Las Vegas, L.A., they’re Motorola,” Brown said.
- “The demand is the best, record backlog. The funding is the best, and the innovation coming out of this company and the acquisitions we’re making, there’s a lot of room to run,” Brown added.
- Price Action: MSI shares closed at $244.17 on Thursday.
- Photo via Wikimedia Commons
Compass Point Initiates Coverage On AFC Gamma with Neutral Rating, Announces Price Target of $25
Compass Point initiates coverage on AFC Gamma (NASDAQ:AFCG) with a Neutral rating and announces Price Target of $25.
