Deutsche Bank Upgrades Johnson Controls (JCI) to Buy
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Deutsche Bank upgrades Johnson Controls (NYSE: JCI) from Hold to Buy, citing comfort with the company's ability to restructure and mitigate downside in its Auto segments.
The analyst said, "JCI's shares have declined 52% ytd on concerns regarding each of the company's three business segments. We have grown increasingly comfortable with JCI’s ability to restructure and mitigate downside in its Auto segments, and believe that JCI’s Building Efficiency and Power Solutions businesses are somewhat less cyclical than implied by JCI’s current valuation. JCI’s capital raising activities have helped mitigate liquidity risk, and strong long term fundamentals and valuation compel us to recommend the stock."
For more ratings on JCI click here.
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