Deutsche Bank Maintains a 'Hold' on Johnson Controls (JCI); F2012: Expecting Growth, Slightly Below Consensus

Deutsche Bank maintains a 'Hold' on Johnson Controls (NYSE: JCI) price target lowered from $41 to $39.

Deutsche analyst says, "Based on discussions with JCI, it does not appear that the company has experienced any noticeable change in business levels at this time. However, we anticipate that management will acknowledge increased uncertainty regarding their business outlook when they present their F2012 objectives on Oct 12. As a result, we believe that JCI may opt to provide a guidance range for several scenarios.While we still believe that JCI is poised for respectable top and bottom line growth in F2012, we suspect that the outlook may fall short of consensus...Our F2012 EPS est is revised to $2.77 from $2.95; but still reflects 15% yoy EPS growth."

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 $29.86 yesterday.

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