Cowen Upgrades Johnson Controls (JCI) to Outperform
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Cowen analyst Gautam Khanna upgraded Johnson Controls (NYSE: JCI) from Market Perform to Outperform with a price target of $36.00 (from $44.00).
The analyst comments "We are upgrading our rating on JCI shares to Outperform from Market Perform, given its relative margin resilience vs. peers through the COVID-19 recession, & the opportunity for valuation/sentiment to improve. Many attributes of the longstanding JCI bear thesis now are invalid."
Shares of Johnson Controls closed at $27.22 yesterday.
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