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JCI

Johnson Controls

$34.79

0.61 (1.78%)

, BBU

Brookfield Business Partners

$37.95

1.1 (2.99%)

07:34
11/14/18
11/14
07:34
11/14/18
07:34

Johnson Controls price target lowered to $39 from $44 at Oppenheimer

Oppenheimer analyst Noah Kaye lowered his price target for Johnson Controls (JCI) to $39 from $44 after the company announced an agreement to sell Power Solutions to Brookfield Business Partners (BBU), concluding the strategic review begun in March. The analyst believes the transaction multiple was reasonable, projected tax leakage was better than he had feared, and management was constructive on deploying sale proceeds for acquisitions. However, without accretive deal-making, the Power sale will be materially dilutive to Johnson Controls' earnings/free cash flow, even with buybacks and corporate savings, he contends. Kaye reiterates an Outperform rating on the shares.

JCI

Johnson Controls

$34.79

0.61 (1.78%)

BBU

Brookfield Business Partners

$37.95

1.1 (2.99%)

JCI Johnson Controls
$34.79

0.61 (1.78%)

09/11/18
09/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CBS (CBS) downgraded to Neutral from Buy at UBS with analyst John Hodulik saying uncertainty around the management transition limits upside in the shares and could last for an extended period. 2. Tesla (TSLA) downgraded to Neutral from Buy at Nomura Instinet with analyst Romit Shah expressing concern that the "erratic behavior" of CEO Elon Musk will taint the Tesla brand. 3. Johnson Controls (JCI) downgraded to Neutral from Buy at UBS with analyst Steven Winoker saying while the company's Buildings business is improving in 2018, the pace and magnitude of the progress is proving slower and lower than expectations. 4. Wingstop (WING) downgraded to Neutral from Buy at Goldman Sachs with analyst Karen Holthouse saying she continues to view the company's comps and unit growth fundamentals favorably but she recommends taking profits at current share levels. 5. AAR Corp. (AIR) downgraded to Hold from Buy at SunTrust with analyst Michael Ciarmoli saying he is maintaining a bullish view on the aero aftermarket with an opportunity for AAR Corp to exploit its position while also reaping benefits from its INL Global Aviation Support Services contract, but he also believes that the company's near-term growth will come under pressure from its maintenance, repair, and overhaul, or MRO, segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/21/18
JPMS
09/21/18
DOWNGRADE
Target $35
JPMS
Underweight
Johnson Controls downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Stephen Tusa downgraded Johnson Controls to Underweight with an unchanged price target of $35. The analyst thinks the company's margins could disappoint and does not see much room for the more focused Buildings portfolio to re-rate.
10/12/18
FBCO
10/12/18
INITIATION
Target $37
FBCO
Neutral
Johnson Controls initiated with a Neutral at Credit Suisse
Credit Suisse analyst John Walsh initiated Johnson Controls with a Neutral rating and $37 price target, telling investors in a research note that Johnson once again finds itself between a rock and a hard place. He believes the current strategic review of Power Solutions will end with a sale or spin, sees Tyco synergies being realized and sees improvement in free cash flow metrics.
10/12/18
FBCO
10/12/18
INITIATION
FBCO
Outperform
EE, MI Sector initiated with Opportunistic View at Credit Suisse
Credit Suisse analyst John Walsh initiated the U.S. Electrical Equipment and Multi-Industry Sector with an Opportunistic View, telling investors in a research note that he believes at this point in the cycle stock appreciation will be driven by earnings growth and capital allocation. He is most positive on energy-related and non-residential end markets while cautious on Fossil Power markets. Specifically, Walsh initiated Allegion (ALLE), Eaton (ETN), Ingersoll-Rand (IR), Lennox (LII), 3M (MMM) and Xylem (XYL) with Outperform ratings, Acuity Brands (AYI), Emerson (EMR), Flowserve (FLS), Fortiv (FTV), GE (GE), Honeywell (HON) and Johnson Controls (JCI) with Neutral ratings and Rockwell Automation (ROK) with an Underperform rating.
BBU Brookfield Business Partners
$37.95

1.1 (2.99%)

01/18/18
01/18/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Caterpillar (CAT) initiated with a Buy at Berenberg. 2. Rosehill Resources (ROSE) initiated with an Outperform at Northland. 3. Arena Pharmaceuticals (ARNA) initiated with an Outperform at Credit Suisse. 4. Electronic Arts (EA) was initiated with an Outperform at Bernstein, while Activision Blizzard (ATVI) was initiated with a Market Perform. 5. Brookfield Business Partners (BBU) initiated with a Sector Perform at RBC Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/16/18
RBCM
03/16/18
UPGRADE
RBCM
Outperform
Brookfield Business upgraded to Outperform from Sector Perform at RBC Capital
05/24/18
SBSH
05/24/18
NO CHANGE
Target $46
SBSH
Buy
Brookfield Business Partners price target raised to $46 from $39 at Citi
Citi analyst Alan Fleming raised his price target for Brookfield Business Partners to $46 citing an accelerating pace of change at the company. The recent GrafTech IPO is the latest example of Brookfield Business's track record for generating capital appreciation growth, Fleming tells investors in a research note. He believes the company has "other levers to pull" and keeps a Buy rating on the shares.
08/23/18
FBCO
08/23/18
INITIATION
Target $54
FBCO
Outperform
Brookfield Business Partners reinstated with an Outperform at Credit Suisse
Credit Suisse analyst Andrew Kuske reinstated coverage of Brookfield Business Partners and $54 price target, up from $42. The analyst believes the stock offers a compelling valuation with an often misunderstood path to surface value along with the ability to compound capital for outsized returns.

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TOT

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XOM

Exxon Mobil

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LL

Lumber Liquidators

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CVX

Chevron

$115.99

-1.31 (-1.12%)

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RDS.A

Royal Dutch Shell

$55.71

-0.37 (-0.66%)

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BP

BP

$36.45

-0.41 (-1.11%)

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URBN

Urban Outfitters

$20.98

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SCSC

Scansource

$31.55

-0.24 (-0.75%)

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URBN

Urban Outfitters

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SCSC

Scansource

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SYBX

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CREE

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MOGO

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Cree

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BCRX

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