UBS Investment Research today released a note saying concerns over Motorola’s second Android phone to Verizon Wireless have been exaggerated.

UBS says it has found nothing to validate concerns over potential technical issues with the phone. “Our industry checks indicate that there are no material issues with the phone and that the handset is moving along the typical qualification process. We believe the Sholes is still on track for mid-to-late November launch at VZW,” wrote UBS analyst Maynard Um.

Last week, Verizon Wireless announced a partnership with Google, saying it would be getting two Android phones in the near future. Web rumors and leaked pictures have all but confirmed that one of those phones will be Motorola’s second Android phone, which is being called the Motorola “Sholes” amongst bloggers and analysts. Motorola recently unveiled the Motorola CLIQ on T-Mobile USA.

Motorola is expected to announce its f third quarter results on Oct. 29. UBS maintains a “Buy” rating for Motorola going forward and forecasts 13.3 million units shipped. UBS predicts a turnaround in devices and expects operating margin improvement by way of a shift from legacy to higher-margin smartphones over time.