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Johnson Controls, Inc. (JCI)
by Zacks Equity ResearchNovember 19, 2012 | Comments : 0 Recommended this article: (0)
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This expected decline is due to weak end-markets and adverse effects of foreign currency. We are also concerned about pricing pressure from OEMs and strong competition faced by the company. These factors have led us to maintain our Underperform recommendation on the stock with a target price of $23.00.
The current P/E, which is close to the lower-end of the historical range, is at a 15% discount to the peer group for 2013. Our $23.00 target price, 8.8X 2013 EPS, reflects our Underperform view.
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