Allegion and Johnson Controls Downgraded: This Analyst Switches Stance Amid Market Challenges
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Mizuho Securities analyst Brett Linzey downgraded both Allegion Plc (NYSE:ALLE) and Johnson Controls International Plc (NYSE:JCI) to Neutral (from Buy).
The analyst raised the ALLE price target of $141 from $140 and maintained the JCI price target of $62.
ALLE: This week, Allegion reported a fourth-quarter adj. EPS of $1.68, beating the consensus of $1.59, while sales of $897.40 million missed the consensus of $902.10 million.
The analyst downgraded ALLE following a strong run in the stock off the lows and a more balanced risk/reward from here.
The analyst expects non-residential markets to be mixed with Institutional steady …
Full story available on Benzinga.com
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