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Fly News Breaks for June 10, 2015
JCI
Jun 10, 2015 | 12:58 EDT
After Johnson Controls announced it is exploring strategic alternatives for its automotive seating business, Wells Fargo said it was not surprised by the new, though it came sooner than the firm had expected. The firm said it also was not surprised by the positive reaction in the shares, since the stock could potentially now get valued with a higher multiple than it has historically received. Wells maintains its Market Perform rating on Johnson Controls shares.
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