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Jefferies Cuts Target, Estimates for Johnson Controls amid Euro Concerns (JCI)

By Dividend.com,  July 09, 2012, 09:13:36 AM EDT

Automotive interiors maker Johnson Controls, Inc. ( JCI ) on Monday received some bearish commentary from analysts at Jefferies & Co.

The firm maintained its "Hold" rating on JCI but lowered its price target to $28. That new target suggests a small upside to the stock's Friday closing price of $27.03. Jefferies also lowered its earnings estimates for the company, citing worries about the European region.

Johnson Controls shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Johnson Controls ( JCI ) have a 2.66% dividend yield, based on Friday's closing stock price of $27.03. The stock has technical support in the $24-$25 price area. If the shares can firm up, we see overhead resistance around the $30-$31 price levels.

Johnson Controls, Inc. ( JCI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: JCI



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