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Fly News Breaks for January 6, 2020
JCI
Jan 6, 2020 | 06:20 EDT
Credit Suisse analyst John Walsh upgraded Johnson Controls to Outperform from Neutral with a price target of $47, up from $45. Walsh tells investors in a research note that he believes the initial FY20 EPS guidance, set on November 7, is achievable and sees potential upside driven by margin performance. The analyst adds that HVAC remains a "hot" theme for investors given the the pending Ingersoll Rand (IR)/Gardner Denver (GDI) and United Tech (UTX)/Carrier spinoffs, sees improving free cash flow generation and conversion metrics.
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