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Fly News Breaks for July 8, 2019
JCI
Jul 8, 2019 | 06:51 EDT
JPMorgan analyst Stephen Tusa upgraded Johnson Controls to Neutral from Underweight and raised his price target for the shares to $35 from $31. The stock has "de-rated" and the company's fundamentals look more stable now relative to peers, Tusa tells investors in a research note. Management's execution of the Battery divestiture "in the least dilutive way possible" brings confidence that Johnson Controls will not overpay for premium valued assets, adds the analyst.
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