Wells Fargo analyst Joesph O’Dea raised the firm’s price target on Johnson Controls (JCI) to $130 from $100 and keeps an Overweight rating on the shares. The firm notes Johnson Controls leads its HVAC coverage with gross margin in the mid-30s. With a 40k+ headcount service network and focus on productivity, there should be room for gross margin expansion, Wells argues. The firm sees a path for the company to approach HVAC EBITDA margin leadership over the next 2-plus years.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JCI:
- Johnson Controls price target raised to $116 from $103 at UBS
- Johnson Controls price target raised to $105 from $90 at Mizuho
- Johnson Controls price target raised to $98 from $81 at JPMorgan
- Johnson Controls: Strategic Focus on Cash Flow and Data Center Growth Drives Buy Rating
- Johnson Controls price target raised to $90 from $85 at Barclays