Needham & Company Reiterates a 'Buy' on Johnson Controls (JCI); Improving Outlook

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April 23, 2012 7:31 AM EDT
Get Alerts JCI Hot Sheet
Price: $153.64 +1.45%

Rating Summary:
    23 Buy, 13 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Johnson Controls (NYSE: JCI) price target of $40.00.

Analyst, Michael Lew, said, "In our view, the outlook for the company reflects the combination of improving demand in auto combined with expense control as Johnson Controls starts to power out from under the blanket of warm weather. In our view, JCI shares present a compelling investment opportunity in a leading-edge Cleantech company that is focused on emissions reduction."

Needham lowers FY12 EPS estimate from $2.78 to $2.74, but raises FY13 from $3.10 to $3.30.

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 $31.96 yesterday.

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