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Upgrade Alert for Johnson Controls (JCI)

By David Diaz

Johnson Controls (NYSE:JCI) was upgraded from Neutral to Outperform at Macquarie today. The stock closed yesterday at $47.86 on volume of 10.9 million shares, above average daily volume of 4.2 million.

Johnson Controls has overhead space with shares priced $47.86, or 8.9% below the average consensus analyst price target of $52.53. The stock should find initial support at its 200-day moving average (MA) of $40.61 and further support at its 50-day MA of $38.90.

Johnson Controls, Inc. markets automotive systems and building controls. The Company supplies seating systems, interior systems, and batteries. Johnson Controls also provides building control systems and services, energy management, and integrated facility management, as well as provides batteries for automobiles and hybrid electric vehicles.

In the past 52 weeks, shares of Johnson Controls have traded between a low of $33.62 and a high of $54.52 and closed yesterday at $47.86, which is 42% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Johnson Controls on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.32. Since that recommendation, shares of Johnson Controls have risen 6.5%. We continue to monitor JCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Johnson Controls

Ticker(s): JCI