Johnson Controls CEO won't drop auto seats business, WSJ reports Johnson Controls has spent over $1B on acquisitions since 2011 to fend off rivals and remain the world's biggest supplier of seats to major auto makers. Yet its lackluster performance has prompted calls from Wall Street to dump the seat business, reports the Wall Street Journal. But new CEO Alex Molinaroli has dismissed calls to leave the business, insisting he won't abandon what he believes is a best-in-class operation.Reference Link
Johnson Controls upgraded to Buy from Neutral at UBS UBS upgraded Johnson Controls to Buy citing seating margin expansion and recovering sales for the company's Building Efficiency business. UBS also believes Johnson could be pushed to break the company up, which it feels could drive value. It raised its price target for shares to $59 from $51.