Needham & Company Downgrades Johnson Controls (JCI) to Buy; Too Warm for Business
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Price: $154.94 +0.85%
Rating Summary:
23 Buy, 13 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
23 Buy, 13 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Needham & Company downgraded Johnson Controls (NYSE: JCI) from Strong Buy to Buy.
Needham analyst says, "We believe Johnson Controls is well-positioned in the long-term to benefit from the secular demand trends in energy efficiency for buildings and transportation. However, the combination of weather being too warm for the battery and residential furnace businesses along with softness in Europe auto is the basis of our downgrade to a Buy rating. We would be inclined to take a more positive view on JCI shares once these obstacles are overcome."
Needham lowers FY12 EPS estimate from $3.00 to $2.73 and FY13 from $3.45 to $3.08.
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 $32.46 yesterday.
Needham analyst says, "We believe Johnson Controls is well-positioned in the long-term to benefit from the secular demand trends in energy efficiency for buildings and transportation. However, the combination of weather being too warm for the battery and residential furnace businesses along with softness in Europe auto is the basis of our downgrade to a Buy rating. We would be inclined to take a more positive view on JCI shares once these obstacles are overcome."
Needham lowers FY12 EPS estimate from $3.00 to $2.73 and FY13 from $3.45 to $3.08.
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 $32.46 yesterday.
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