Bernstein SocGen Group Reiterates Outperform Rating on Johnson Controls (JCI), 'our top HVAC pick'

Bernstein SocGen Group analyst Varun Govindaraj reiterated an Outperform rating and $190.00 price target on Johnson Controls (NYSE: JCI).

The analyst commented: "We like the setup for JCI the most (our top HVAC pick), this seems to be a consensus long from most investors going into the Q. Trane seems to have some narrative issues on price cost; we think these could be overblown and expect organic growth to come in strong regardless. On Carrier, concerns are less on 3Q (which management has largely telegraphed at conference season but rather that Americas margins seem to be high on the sell side and investors expect them to cut the EPS guide in 4Q."

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 $158.76 yesterday.

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