Johnson Controls price target lowered by $4 at Barclays, here’s why

Barclays analyst Julian Mitchell lowered the firm’s price target on Johnson Controls to $60 from $64 and keeps an Equal Weight rating on the shares. The analyst says some investors seem to be hoping for strategic action at Johnson Controls, whether internally or externally driven. The firm cautions that improving the free cash flow, or changing the portfolio and deemphasizing Install, would likely take some time, and cyclically there may be more attractive markets elsewhere in the group.