Johnson Controls reports Q1 EPS 69c, consensus 69c Reports Q1 revenue $10.91B, consensus $10.73B. The company said, "While Building Efficiency revenues were lower than last year, there are early indications of improving global commercial buildings markets, which should positively impact the business later in the year. The results in the quarter are consistent with the expectations we disclosed at our analyst day in December."
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.