UBS Raises Price Target on Johnson Controls (JCI) Following Adient Investor Day
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- Fed's Yellen says 'makes sense' to gradually raise interest rates
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
UBS reiterated a Buy rating on Johnson Controls (NYSE: JCI), and cut the price target to $51.00 (from $52.00), following Adient's investor day. Adient should fundamentally achieve higher margins than peers given its vertical integration.
Analyst Colin Langan commented, "2017 guidance came in below our estimates; however, we believe management is likely guiding conservatively to set Adient up to beat through the year. Profits should rise on margin expansion (SG&A cost cutting & metals integration) and increasing China equity income. The day increased our confidence in the margin opportunity and hidden value in China JVs."
Shares of Johnson Controls closed at $44.28 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
- Neurocrine Bio. (NBIX) PT Lowered to $56 at Jefferies Amid Adult Tourette's Data
- Piper Jaffray Downgrades CoLucid Pharmaceuticals (CLCD) to Neutral Amid Takeover
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!