S&P Capital IQ Reiterates its STRONG BUY Rating on Johnson Controls

October 28 00:00 2011

NEW YORK, October 28 (RainbowNewsLine.com) – Analyst Efraim Levy of S&P Capital IQ reiterates his STRONG BUY rating on the shares of Johnson Controls (NYSE: JCI). The target price is set to $45.

Analyst Efraim Levy, in a research note published yesterday mentions that the company reported its September quarter EPS in line with the estimates. Johnson Controls’ operations are benefitting from efforts to support economic growth in Europe and beyond, given its substantial global presence, the analyst says. The company’s stock should profit from secured macro environment such as launch of proposed European rescue package, the analyst adds. The EPS estimate for FY12 has been reduced from $3.05 to $3.03. The analyst finds Johnson Controls’ shares compelling, reflecting remarkable long-term growth in emerging markets.