Motorola Shares Fall

Shares of Motorola Inc., one of the world’s largest mobile phone makers, fell Wednesday after a key Wall Street analyst cut his price target for the company’s stock price by 40 percent.

Motorola shares closed down $18.44, to $86.50 in trading on the New York Stock Exchange.

The shares fell after Salomon Smith Barney analyst Alex Cena cut his rating on Motorola to “buy” from “outperform” and lowered his earnings estimates for the wireless giant for both this year and next.

Cena said in a research note that while Motorola will be among the biggest winners in the wireless industry, “we no longer are comfortable with our high-end estimates that were based on a more optimistic view.”

Also Wednesday, Federated Department Stores Inc.’s reported that first-quarter earnings rose 2 percent from a year ago, fueled by strong sales at its department stores, which include The Bon Marche and the Macy’s and Bloomingdale’s chains.