J.P. Morgan Tweaks FY2011 EPS Estimate On JCI

J.P. Morgan is tweaking down its FY2011 EPS estimate to $2.40 (vs. $2.60 previously) “which is at the lower end of company's recently revised guidance ($2.40-2.45) incorporating the Japan quake impact.” “Our F3Q.2011 and F4Q.2011 estimates are $0.51 and $0.78, respectively,” J.P. Morgan writes. “We leave our Dec-2011 price target unchanged at $46, which we continue to base on a 14x P/E applied to our unchanged F2012 EPS of $3.25. We maintain our Overweight rating on Johnson Controls Inc. JCI.” Johnson Controls closed Monday at $39.60.