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Johnson Controls, Inc. (JCI)
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ShareJohnson Controls (JCI) is suffering from a weakness in its North American business, high inventory levels at the OEMs, weakening product mix, and raw material/ price squeeze. Rapid deterioration in automotive production coupled with worsening residential market raise concern.
As foreseen, Johnson reported losses in the second quarter of fiscal 2009. The company expects a return to profitability in the second half of fiscal 2009. These lead us to rate the stock a Sell with a target of $12.00.
Currently, Johnson Controls shares are trading at approximately 15.8x our 2010 estimate of $1.11. Our target price is 10.8x our 2010 EPS estimate.
Johnson Controls, Inc. (JCI) : FULL ANALYST REPORT
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