Johnson Controls Downed to Sell – Analyst Blog
Source: http://www.zacks.com/stock/news/18468/Johnson+Controls+Downed+to+Sell+-+Analyst+BlogPosted on Tuesday, March 24th, 2009 | In Stocks to Watch
Wisconsin-based Johnson Controls, Inc. (JCI) is a supplier of automotive interiors, batteries, and other control equipment. The company functions through three segments: Automotive Experience, Building Efficiency and Power Solutions.
Johnson Controls is suffering from weakening product mix and raw material/ price squeeze. It has recently withdrawn its financial guidance due to lower North American and European vehicle production. Rapid deterioration in automotive production coupled with worsening residential market raise concern.
As foreseen, Johnson reported losses in the 1st quarter of fiscal 2009 and expects to incur similar losses in the 2nd quarter of the year. The company expects profits only after the 3rd quarter of fiscal 2009. These lead us to rate the stock a Sell with a target of $7.00.
Read the full analyst report on “JCI”
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