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Fly News Breaks for June 14, 2016
TYC, JCI
Jun 14, 2016 | 08:40 EDT
Baird believes Johnson Controls (JCI) shares should move higher into the closing of its Tyco (TYC) merger and subsequent spinoff of Adient. The firm sees the broad energy market growing, with Johnson Controls well positioned to deliver 7-8% revenue growth with expanding margins. Baird sees Johnson Controls as the leader in the electric battery space and said it remains a top idea. Baird reiterated its Outperform rating and $52 price target on Johnson Controls shares.
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