Johnson Controls initiated with "peer perform"

09/30/03 - Bear Stearns

NEW YORK, September 30 (New Ratings) – Analyst Dominic Martilotti of Bear Stearns initiates coverage of Johnson Controls (JCI) with a "peer perform" rating.

In a research note published this morning, the analyst mentions that Johnson Controls is a broad based auto company with a strong presence in the automobile industry. Bear Stearns believes that the company's strong fundamentals are already reflected in its stock price. The analyst says that the company's stock would be an attractive investment option once it starts trading in line with its peers.