Lessons of the fall: MotorolaMore VideosNEW YORK (AP) -- An analyst cut his rating and price target on Motorola Inc. Monday, saying the company continues to lose handset market share in North America, where nearly half of its unit sales originate.Piper Jaffray analyst T. Michael Walkley downgraded Motorola (MOT, Fortune 500) to "Sell" from "Neutral" and cut his price target to $7 from $9.75.
The new target implies he expects shares to slip 12% over Friday's $7.94 close.Sales are decliningWhile North American market share remains well above its global share, sales at four major wireless carriers on the continent are declining, he said.
Schaumburg, Ill.-based Motorola said in March that it plans to separate the handset business, which has been hurt by a two-year-long decline in cell phone sales, from its home and networks business.
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