Goldman Sachs Downgrades Johnson Controls (JCI) to Sell Citing Valuation

December 8, 2017 3:01 AM EST
Get Alerts JCI Hot Sheet
Price: $72.72 +0.03%

Rating Summary:
    27 Buy, 10 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 19 | New: 35
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Goldman Sachs downgraded Johnson Controls (NYSE: JCI) from Neutral to Sell with a price target of $35.00.

Analyst Joe Ritchie sees further downside to the equity noting concerns from investors are unlikely to be fully resolved in FY 2018 and believes the equity will underpace peers on 2017-2019 EPS growth and organic growth which, when coupled with subpar FCF conversion, will likely constrain the valuation multiple.

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 $37.36 yesterday.

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