Johnson Controls (JCI) follows a strong cost-reduction strategy. The company expects to grow through meaningful acquisitions and increased capital expenditures.
Its Building Efficiency segment has recovered based on higher sales from Global workplace solutions. Its profit exceeded the Zacks Consensus Estimate in the most recent quarter.
These factors have led the company to raise its sales and earnings forecast for full year 2011. Thus, we have upgraded our recommendation on the stock from Neutral to Outperform and set a target price of $46.
JOHNSON CONTROL (JCI): Free Stock Analysis Report
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