RBC Capital Downgrades Johnson Controls Intl to Underperform, Lowers Price Target to $50
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Deane Dray has downgraded Johnson Controls International (JCI) from Sector Perform to Underperform and reduced the price target from $54 to $50. This reflects a more bearish outlook on the company's stock by the analyst.
January 12, 2024 | 9:54 am
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Johnson Controls Intl has been downgraded by RBC Capital from Sector Perform to Underperform with a lowered price target from $54 to $50, indicating a negative outlook on the stock.
Downgrades by analysts, especially from a neutral to a negative rating, can lead to a decrease in investor confidence and a potential drop in the stock price in the short term. The reduction in the price target further supports the expectation of a negative impact on JCI's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100