Story updated at 10 a.m. to reflect market activity.
Johnson Controls fell 2.1% to $45.49 in morning trading.
Wells Fargo analysts said the company now has less upside potential.
"Relative to our prior expectation, we believe the company has less potential to outperform earnings expectations in the next couple of quarters," analyst Richard M. Kwas wrote. "As such, share price appreciation over the next 612 months is more modest than originally thought. We believe the shares have potential catalysts (on going portfolio transformation, better operating execution, recovery in the institutional construction markets, etc.) that could drive outperformance relative to the market over the next year. We maintain our Outperform rating."
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Separately, TheStreet Ratings team rates JOHNSON CONTROLS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate JOHNSON CONTROLS INC (JCI) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."