UBS Cutting Estimates and Price Target on Johnson Controls (JCI) After Another Miss

UBS maintains a 'Neutral' on Johnson Controls (NYSE: JCI) price target of $27.00 (from $28.00).

Analyst, Colin Langan, said, "Q3 EPS of $0.64 falls short of guidance ($0.67) and consensus ($0.66) JCI also cut full year guidance to $2.52-$2.56 from $2.75 prior. This is the second miss and guidance revision for JCI this year...We are cutting our 2013 EPS estimate from $3.25 to $2.85. The $0.40 EPS reduction reflects ~$0.05 related to lower BE growth and ~$0.35 related to lower Auto Experience (AE) margins."

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 $26.07 yesterday.

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