UBS Raises Price Target on Johnson Controls (JCI) Following Adient Investor Day
- Wall Street dragged down by Apple, health stocks
- Unusual 11 Mid-Day Movers 9/29: (ITCI) (ADHD) (MRNS) Higher; (CATB) (AEGR) (DRNA) Lower
- Some Deutsche Bank (DB) Clients Said to Reduce Collateral on Trades
- After Near-Term Outperformance, Barclays Sees Apple (AAPL) Shares Flat from Here
- U.S. economy less sluggish in second quarter; companies investing more
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. 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
- UBS Cuts AT&T (T) to Neutral on Lower EPS Estimates
- UBS Raises Price Target on DTE Energy (DTE) to $112; Reiterates Buy
- Ferrellgas Partners (FGP): Cutting Ests And Reiterating Sell - UBS
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!