It's time to build a long-term position in Motorola Solutions , according to JPMorgan. Analyst Paul Chung upgraded Motorola Solutions to overweight from neutral, saying the telecommunications equipment firm that was spun off from telephone company Motorola Mobility Holdings is looking attractive. "The stock has retraced back to levels pre-4Q print, and we take advantage of overall market volatility to establish a long-term position in this high-quality stock," Chung wrote. Motorola Solutions, the maker of video equipment and other software solutions, separated from Motorola Mobility Holdings in 2011. Since then, Motorola Solutions shares have had just two down years, most recently in 2022, when it fell just 5% while the S & P 500 dropped 19%. This year, shares are slightly higher, by about 0.4%. Meanwhile, the analyst's $305 price target, raised slightly from $300, represents more than 17% upside from Wednesday's close. The stock is up more than 1% in Thursday premarket trading. MSI 1D mountain Motorola Solutions shares 1-day Motorola has record backlog levels that are expected to remain robust on an upgrade cycle. The firm also has exposure to the public safety market along with Axon Enterprise , a sector that's been "more resilient" because of favorable government funding, according to the note. The analyst also cited the firm's competitive position in the market, as well as its ability to expand its product offerings through acquisitions, as well as the high quality of its earnings. "Backlog remains at record levels with strong upgrade cycle in LMR in early innings, along with robust demand for video analytics solutions across multiple industry verticals," Chung wrote. "We expect MSI to outperform the mean of our coverage over the next 12 months." —CNBC's Michael Bloom contributed to this report.