Jefferies Starts Johnson Controls (JCI) at Hold, Trades Unlike Any Other Company In Autoomotive
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Price: $153.64 +1.45%
Rating Summary:
23 Buy, 13 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 13 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies initiates coverage on shares of Johnson Controls (NYSE: JCI) with a Hold rating and $43 price target.
The firm really likes JCI as it trades more like a multi-industry company than an auto supplier since their acquisition of York in late 2005. The firm reports that, "we think this is positive because, in our view, the best reasons to own the stock are generally non-automotive."
Jefferies is anticipating that JCI will experience double-digit levels of growth for the next 2-3 years in their revenue segment. They state that their "Power Solutions is undergoing a transformation, evolving from a cash cow business with muted top-line growth prospects of 0-2%, to a 10-12% top-line grower with the potential for further margin expansion down the road."
For more ratings news on Johnson Controls click here and for the rating history of Johnson Controls click here.
Shares of Johnson Controls closed at $39.79 yesterday.
The firm really likes JCI as it trades more like a multi-industry company than an auto supplier since their acquisition of York in late 2005. The firm reports that, "we think this is positive because, in our view, the best reasons to own the stock are generally non-automotive."
Jefferies is anticipating that JCI will experience double-digit levels of growth for the next 2-3 years in their revenue segment. They state that their "Power Solutions is undergoing a transformation, evolving from a cash cow business with muted top-line growth prospects of 0-2%, to a 10-12% top-line grower with the potential for further margin expansion down the road."
For more ratings news on Johnson Controls click here and for the rating history of Johnson Controls click here.
Shares of Johnson Controls closed at $39.79 yesterday.
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