Johnson Controls (JCI) PT Adjusted to $48 at Oppenheimer

October 31, 2016 9:34 AM EDT
Get Alerts JCI Hot Sheet
Price: $45.45 --0%

Rating Summary:
    17 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 17 | New: 13
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Oppenheimer analyst Noah Kaye adjusted his price target on Outperform-rated Johnson Controls (NYSE: JCI) to $48.00 (from $52.00) post Adient spin and ahead of 4Q16 earnings next Tuesday. The firm also introduced FY18 estimates for the remaining JCI

Kaye commented, "With recent non-res indicators warranting a more conservative view on revenue trajectory in Building Efficiency
and legacy Tyco, we update our FY17 estimates and now forecast 3.3% top-line growth in FY17 (from prior 5.1%). However, we also model synergies, existing productivity initiatives, and product mix improvement to support double-digit EPS growth yr./yr. in 2018. We continue to see JCI evolving into a multi-industrial growth engine with proprietary building controls and energy storage capabilities, highly levered to key themes in sustainable growth."

For an analyst ratings summary and ratings history on Johnson Controls click here. For more ratings news on Johnson Controls click here.

Shares of Johnson Controls closed at $45.45 yesterday.

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