UBS Raises Price Target on Johnson Controls (JCI) Following Adient Investor Day

September 16, 2016 8:43 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: 13 | Down: 22 | New: 54
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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."

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 $44.28 yesterday.

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