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In a report published Monday, Morgan Stanley analyst Ravi Shanker downgraded the rating on Johnson Controls (NYSE: JCI) from Overweight to Underweight, and lowered the price target from $45.00 to $40.00.

In the report, Morgan Stanley noted, “We moved JCI near the top of our rankings a year ago because we saw far more scenarios where JCI could win than lose. However, with execution back on track, a new CEO lobbying for change and the stock at $43, expectations into the analyst day may be too high.”

Johnson Controls closed on Friday at $42.53.

Latest Ratings for JCI

DateFirmActionFromTo
Oct 2014Wells FargoDowngradesOutperformMarket Perform
Oct 2014RBC CapitalDowngradesTop PickOutperform
Sep 2014JP MorganMaintainsNeutral

View More Analyst Ratings for JCI
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Ravi ShankerAnalyst Color Downgrades Analyst Ratings

 

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