Deutsche Bank Upgrades Johnson Controls (JCI) to Buy; Valuation Call

Deutsche Bank upgraded Johnson Controls (NYSE: JCI) to Buy with a price target of $39.00.

Deutsche analyst said, "The catalyst for our more favorable stance on the stock is two-fold: 1) We believe that investors have become overly bearish regarding JCI’s near term and long term prospects, and; 2) We believe there’s a very strong probability that JCI will begin showing improved performance over the relatively near term. We believe that increased confidence in the prospects for double digit earnings growth should serve as a catalyst for multiple expansion."

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 $31.83 yesterday.

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