Johnson Controls price target raised to $94 from $87 at Oppenheimer

Oppenheimer raised the firm’s price target on Johnson Controls (JCI) to $94 from $87 and keeps an Outperform rating on the shares. The firm notes shares traded up Wednesday after the company announced Joakim Weidemanis as incoming CEO, while beating Q1 2025 top/bottom line consensus and guiding the Q2 EPS midpoint 7% above the Street estimate. As Johnson Controls increasingly moves towards a customer-centric, service-oriented, streamlined operating model that can better leverage its installed base and the OpenBlue platform, Oppenheimer views the leadership appointment as a potential accelerant to profitable growth.